The AI company Databricks has raised 5 billion dollars in its latest round of financing, reaching a post-investment valuation of 55 billion dollars

On November 28, according to Bitcoin.com, San Francisco-based data analytics and artificial intelligence (AI) company Databricks raised $5 billion in its latest funding round, bringing the company's valuation to $55 billion. Sources say that Databricks plans to raise a total of $8 billion, potentially making it the largest fundraising round this year. The report suggests that the purpose of Databrick's latest funding round is to allow employees to sell shares, thereby reducing the need for an immediate initial public offering (IPO). However, while an IPO may not be imminent, it could still occur in the second half of 2025.

While the report did not disclose who participated in this latest funding round, it revealed well-known supporters of the company including Nvidia, Capital One, Andreessen Horowitz(a16z), Baillie Gifford,Fidelity , Insight Partners and Tiger Global. In September 2023,Databricks raised $500 million with a valuation of $43 billion.

Openai currently holds the record for largest financing round in 2024 having raised $6.6 billion in October. Billionaire Musk's xai also received a financing amounting to $5 billion which brought its valuation up to$50billion.Another AI startup Anthropic has secured$400million from Amazon taking their total funds raised up till now at$8billion.