Leading data and artificial intelligence solutions provider Databricks has completed its Series J fundraising round, generating $5.25 billion in debt finance and $10 billion in equity. The money values the firm at $62 billion and names Meta (META, Financials) as a first-time investment.
Contributions from Temasek, the Qatar Investment Authority, and companies under Macquarie Capital rounded out the equity round. Databricks claims that the money will help acquisitions, worldwide growth, AI product development, liquidity for both current and past staff.
Lead by JPMorgan Chase, the debt arrangement comprises a $2.5 billion revolving credit facility and a $2.75 billion term loan. Other involved financial companies include Morgan Stanley, Citi, Goldman Sachs, and Barclays.
Databricks said that their platform helps companies to modernize data and artificial intelligence infrastructure, therefore establishing the firm as a major participant in the AI ecosystem. Serving more than 10,000 companies worldwide—including Fortune 500 companies—the corporation claimed in applications spanning healthcare, climate change, fraud detection, and pharmaceuticals.
Reinforcing its ongoing investment in Databricks, the Qatar Investment Authority underlined trust in the strategic orientation and leadership of the firm within the AI infrastructure market.
