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Databricks closes in on multibillion funding round at $55 billion valuation to help employees cash out

Databricks is raising at least $5 billion in cash — though it could raise as much as $8 billion — pegging its new valuation at $55 billion, sources say.

One of the world's most valuable private tech companies is raising billions more in cash and is in no rush to go public, sources told CNBC.

San Francisco-based Databricks is raising at least another $5 billion in its latest funding round, though it could raise up to $8 billion given the round is ongoing, according to several people familiar with the matter, who asked not to be named because the discussions were private. The latest raise would value the company at $55 billion and could top the largest round of the year, by OpenAI.

#databricks #data #technology #valuation #ai #sanfrancisco