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Databricks Raises $500M at $43B Valuation from Nvidia and Capital One
Sep 16, 2023
Databricks raises $500M at a $43B valuation from Nvidia and Capital One, impacting their future and valuation dynamics. The podcast explores Databricks' financial performance, potential growth post-IPO, and the advantages of rising AI spending. Gaming on a Chromebook and KPMG's focus on innovation are also briefly discussed.
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Quick takeaways
- Databricks' successful funding round of over $500 million at a $43 billion valuation defies the trend of valuation slashes for late-stage startups, indicating the company's strong position in the AI market and its ability to explore competitive ambitions.
- Databricks' strong financial performance, with a revenue run rate exceeding $1.3 billion and a global customer base of over 10,000, makes investors bullish about the company's potential to surpass its current valuation post-IPO, despite its slightly high valuation in the current market.
Deep dives
Databricks Raises $500 Million in Funding
Databricks, a leading company in data analytics and AI software, has successfully closed a series I funding round, securing over $500 million. This funding round has pushed Databricks' valuation to an impressive $43 billion, defying the current trend of valuation slashes for late-stage startups. The successful fundraising indicates that not all companies are sinking in the funding slowdown. The investor lineup for this round includes pre-IPO and strategic funding, with prominent names such as T-row Price, Morgan Stanley, Fidelity, Franklin Templeton, Capital One Ventures, NVIDIA, and more. The influx of new capital positions Databricks as a significant player in the AI market and enables the company to explore competitive ambitions.
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