Databricks wanted to raise $1B, investors wanted $15B. It settled on $5B at a $190B valuation.

Databricks raised 5 billion dollars in a Series J funding round at a 190 billion dollar valuation, according to reporting by TechCrunch. The company had initially sought to raise 1 billion dollars but increased the round size after investor demand exceeded expectations, TechCrunch reported. Databricks CEO Ali Ghodsi attributed the expanded funding to the high costs associated with AI development.

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