Databricks raises over $4 billion at a $134 billion valuation, reflecting investor confidence in AI companies. The Series L funding round boosts the San Francisco-based firm’s capability to compete in the market. Revenue surged to $4.8 billion in Q3, with AI and data warehousing businesses exceeding $1 billion each. The company plans to use funds for research, development, and talent retention, with Insight Partners leading the funding round. Databricks emphasizes its secure data governance tools for businesses, aiming to build “data intelligence apps” by investing in AI database and embedding intelligence into software.

Read more at Yahoo Finance: Databricks builds war chest with $134 billion valuation in latest funding round