Data analytics firm Databricks is in talks to raise $5 billion at a valuation of $134 billion, which is 32 times this year’s expected sales of $4.1 billion. The company has increased sales projections twice this year, now expecting sales to grow by 55%. Gross margin is falling to 74% due to AI product usage. Founded in 2013, Databricks has over 20,000 customers.

Databricks, a data analytics firm, is in discussions to raise $5 billion at a valuation of $134 billion, significantly higher than its expected sales of $4.1 billion this year. The company has revised its sales projections upwards twice this year, now anticipating a 55% growth. However, its gross margin is falling to 74% due to increased AI product usage.

Databricks, a data analytics company, is in talks to raise $5 billion, valuing the firm at $134 billion, 32 times its expected sales of $4.1 billion this year. The company has raised its sales projections twice this year, now forecasting a 55% growth. However, its gross margin is declining to 74% due to higher AI product usage.

Read more at Yahoo Finance: Databricks in talks to raise capital at $134 billion valuation, The Information reports