Databricks offers tools for data, analytics and AI. Credit: rarrarorro/Shutterstock.

Databricks, a US-based artificial intelligence (AI) and data analytics solutions provider, is in talks to raise new funding at a valuation of $43bn, reported Bloomberg.

The technology provider has roped in investment management company T. Rowe Price for discussions.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Sources warned that the talks are at an initial stage and could still collapse.

In 2021, Databricks raised $1.6bn in a Counterpoint Global-led Series H funding round at a valuation of $38bn.

A Databricks representative declined to comment on the news.

Last week, Databricks CEO Ali Ghodsi stated in an interview with Bloomberg that while the company was well-capitalised and did not need additional funding, it would consider it for strategic reasons.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“There’s always talks with investors,” Ghodsi said. “We are getting inbound requests all the time.”

Databricks was a potential candidate for an initial public offering (IPO) up until the beginning of the year, however, Ghodsi said told the publication that the company did not have a target date in mind.

“The markets are closed,” he was quoted as saying. “If they had not been closed, we would have already been public.”

In June, Databricks signed a $1.3bn deal to acquire MosaicML, a generative AI solutions provider.

Together, the businesses hope to make generative AI more accessible to all types of enterprises, enabling them to create, manage, and secure generative AI models using their data and at significantly cheaper prices.

In April, Databricks launched Dolly, a large language model, to help users develop ChatGPT-like applications.