Databricks eyes over $100B valuation on rising Al bets

Analytics firm Databricks said on Tuesday its valuation was set to jump 61 per cent to more than $100 billion in a funding round less than a year after its last, underscoring strong investor demand for artificial intelligence startups.

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The San Francisco, California-based company — with 15,000 customers, including payments firm Block, energy giant Shell and electric-vehicle maker Rivian — said it has signed a term sheet for a Series K round, but did not disclose the amount it was raising.

Late last year, Databricks had raised $10 billion in one of the largest venture capital funding rounds in history, which valued it at $62 billion.