Databricks is close to finalizing a new funding round that values the company at $100 billion, a significant increase from its previous valuation of $62 billion in December. Investors are eager to bet on late-stage AI winners, leading to enthusiastic backing from Thrive Capital, Insight Partners, WCM Investment Management, and Andreessen Horowitz. Databricks’ software is being used by companies like Adidas to analyze consumer sentiment, with plans to invest in AI-native databases and talent expansion. CEO Ali Ghodsi hints at the company potentially growing into a trillion-dollar firm in the long term.

The funding surge for Databricks reflects a larger trend of private investors seeking AI exposure following recent market events. This funding round not only secures Databricks’ position as one of the most valuable private technology companies but also delays the pressure to go public. The leap in valuation showcases the transformative potential of AI and the intense competition among investors seeking stakes in AI adoption pioneers.

Read more at Quiver Quantitative: Databricks Delays IPO Plans With $100B Raise Backed by Top Investors