Reported 1 day ago
Databricks Inc. has successfully raised more than $5 billion from private lenders, including Blackstone and Apollo Global Management, marking its largest debt raise to date. The funds, brokered by JPMorgan Chase, will help offset tax liabilities from employee stock sales and will also be directed toward the company's expansion into AI products and global markets. Following a recent $10 billion funding round, Databricks anticipates exceeding $3 billion in annual revenue by January 2025.
Source: YAHOO