Databricks announced on Wednesday that Meta Platforms had become an investor in a $10 billion funding round aimed at supporting the data analytics startup's expansion and new product development.
The Series J funding round concluded on Wednesday. Additionally, the company secured a $5.25 billion credit facility with the participation of JPMorgan Chase, Barclays, Citi, Goldman Sachs, and Morgan Stanley.
Established in 2013 and based in San Francisco, Databricks provides a platform tailored to assist users in processing, analyzing, and creating artificial intelligence applications using complex data from various sources.
Investors are eagerly funding AI-related startups following the remarkable success of OpenAI's ChatGPT, which led to increased corporate adoption of the technology.
OpenAI, led by Sam Altman, received significant investments in 2024.
Various companies, including Meta, have been heavily investing in developing and training large language models (LLMs) like ChatGPT, which are advanced AI systems designed to comprehend and generate human-like text.
Databricks collaborates closely with Meta's Llama team. Llama represents a group of open-source LLMs developed by Meta.
Databricks co-founder and CEO Ali Ghodsi stated, "Thousands of customers are utilizing Llama on Databricks, and we have been collaborating closely with Meta to best serve those enterprise customers with Llama... It made sense for both parties to strengthen that partnership through this investment."
According to its website, over 10,000 organizations, including Comcast, Block, Rivian, and Shell, rely on Databricks' Data Intelligence Platform for data management and analysis in AI applications.