AI Firm Databricks Closes in on $188 Billion Valuation This Summer

Databricks is raising a round of strategic funding at a $188 billion valuation and expects the round to close later this summer, the company said in a Thursday (July 16) press release . The data and artificial intelligence company signed a term sheet for the round, which is led by existing investor Coatue and will include new and existing investors, according to the release. Databricks will invest the new capital in its multi-AI governance solution, Unity AI Gateway ; its AI coworker, Genie ; an