"Databricks CEO Ali Ghodsi thinks the AI boom (and bubble) are creating pockets of relentless sameness across tech. "I'm a little bit worried," he said. "There's definitely too much of everybody doing the same thing in general...It's kind of like watching kids play soccer-all of them run towards the same ball. Then, there's a big collision in the middle, somebody kicks the ball somewhere else-and then all of them run that way.""
"The company was founded in 2013, and has since raised billions in venture backing as it becomes a stalwart data, analytics, and AI platform. A favorite among enterprises, the company's footprint is astonishing: In Q3, Databricks said it surpassed a $4.8 billion annual revenue run-rate, marking year-over-year growth of 55%. Databricks announced that revenue figure with another key piece of financial news on Tuesday: that it had raised north of $4 billion-at a $134 billion valuation-for its Series L."
Databricks was founded in 2013 and has become a major data, analytics, and AI platform for enterprises. The company reported surpassing a $4.8 billion annual revenue run-rate in Q3, representing 55% year-over-year growth. Databricks raised more than $4 billion in a Series L at a $134 billion valuation, with investors including Insight Partners, Fidelity, and J.P. Morgan Asset Management alongside Andreessen Horowitz, Blackstone, and Temasek. CEO Ali Ghodsi expressed concern that the AI boom is producing widespread sameness across tech, using a soccer analogy to describe companies chasing identical opportunities. The valuation sits amid larger AI-era valuations such as OpenAI and SpaceX.
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