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AI analytics company Databricks looks to ramp up India play
Economic Times
·
1m ago
Medial
Databricks is expanding its presence in India with a $250 million investment to enhance talent, R&D, and market reach. With a $62 billion valuation, the company sees India as vital for AI talent and innovation, aiming for positive cash flow. Databricks emphasizes AI's potential to boost productivity without job losses, focusing on upskilling. They are investing in local compliance and language support, viewing changing dynamics as opportunities rather than threats, despite competition from firms like Snowflake and Salesforce.
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Databricks to pump in $250M in India; launches AI academy
YourStory
·
3m ago
Medial
Databricks plans to invest over $250 million in India in the next three years, focusing on training, R&D, and expanding its workforce by over 50%. The initiative includes launching the India Data + AI Academy to train around 500,000 individuals with courses in data, analytics, and AI. Additionally, Databricks has opened a new R&D office in Bengaluru, hiring over 100 engineers, reinforcing India as a key growth market with investments in development and innovation.
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India's digital businesses are innovating faster with Data + AI, says Databricks founder
Economic Times
·
1m ago
Medial
Databricks founder Ali Ghodsi highlighted that India's digital businesses are leading in AI innovation, surpassing global counterparts. The company is investing $250 million in India for R&D, talent development, and AI adoption, focusing on Bangalore and targeting IITs for talent. Databricks is optimistic about Asian markets due to relaxed regulations. The company unveiled key initiatives like "Agent Bricks" for AI agent optimization, "Lakebase" database, and free Databricks access to bridge the AI talent gap.
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AI company Databricks finds India on a different trajectory, invests more
Economic Times
·
1y ago
Medial
San Francisco-based data and AI company Databricks is focusing on expanding its presence in India. The company is allocating a significant portion of its global investments to enhance its customer base, build engineering teams, and support Indian startups in training language models with quality datasets. CEO Ali Ghodsi stated that India is on a different trajectory compared to other regions in terms of economic growth, and he believes it will become a substantial part of Databricks' revenue. The company is also assisting Indian AI startups by leveraging synthetic data creation and transfer learning techniques to overcome the limitations of low-resource training. Databricks has experienced 80% revenue growth in India over the past two years and has launched its data intelligence infrastructure in Mumbai.
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AI firm Databricks 'doubling down' on investment in India
Economic Times
·
1y ago
Medial
Data and AI company Databricks has announced its plans to increase investments in India due to the rising demand for data and AI solutions in the country. The company has experienced a surge in demand from various industries including FSI, retail, manufacturing, and digital natives. Databricks recently launched its infrastructure on Google Cloud and expanded its Indian go-to-market and R&D teams to meet the growing demand. The company established its R&D hub in Bengaluru last year.
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Inside the Creation of the World’s Most Powerful Open Source AI Model
Wired
·
1y ago
Medial
Data science and AI company Databricks has announced the development of its top artificial intelligence language model, DBRX. The model, built by a team of engineers and executives at Databricks, outperformed all other open source models available in benchmarks measuring general knowledge, reading comprehension, logical puzzles, and code generation. Databricks plans to release DBRX under an open source license, contributing to the growing movement of transparency and openness in the AI industry. The company also aims to provide insights into the model's creation process and help other industries integrate AI technology securely.
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Databricks closes in on $55 billion valuation after latest fundraise
Economic Times
·
8m ago
Medial
Databricks is in discussions to raise around $8 billion in funding, which would value the data analytics company at $55 billion. Most of the funding would come from a secondary share sale, allowing early investors and employees to cash out some of their stock holdings. This would also cover the associated tax costs. Several other startups, including Stripe and OpenAI, have pursued similar fundraising strategies to avoid going public and to strengthen their finances. Major investors Thrive Capital and DST Global are said to be participating in Databricks' fundraising efforts.
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Qlik acquires AI data management firm Mozaic
Economic Times
·
1y ago
Medial
Swedish data analytics company Qlik has acquired AI-driven data management provider Mozaic Data. The move aims to accelerate data deployment and utilization across enterprises, particularly in cloud platforms like Amazon Redshift, Databricks, Google BigQuery, Microsoft Fabric, and Snowflake. Mozaic's data products are focused on decentralized architecture, with a data product marketplace for different business needs. The acquisition will contribute to Qlik's strategy of treating data as a product and align with their upcoming projects. Qlik currently serves over 40,000 enterprise customers worldwide.
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Databricks secures $62 billion valuation in AI-focused funding round
Economic Times
·
7m ago
Medial
Databricks, a data and analytics company, has secured a $10 billion funding round led by Thrive Capital, resulting in a valuation of $62 billion. The funds will be used for developing new AI products, making acquisitions, and expanding globally. The significant investment highlights the strong demand for AI-focused startups in Silicon Valley. Co-led by investment firms Andreessen Horowitz, DST Global, GIC, Insight Partners, and WCM Investment Management, the round also saw participation from other companies such as Ontario Teachers' Pension Plan, ICONIQ Growth, MGX, Sands Capital, and Wellington Management.
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Amazon, Databricks strike five-year deal around AI chips
Livemint
·
9m ago
Medial
Amazon and startup Databricks have formed a five-year deal aimed at reducing costs for businesses looking to build their own AI capabilities. Under the agreement, Databricks will utilize Amazon's Trainium AI chips to power services that enable companies to customize or build their own AI models. The deal signifies Amazon's positioning as a neutral provider of AI technology, while Databricks aims to leverage Amazon's AI chips to offer faster and cheaper AI capabilities to businesses. The financial terms of the agreement were not disclosed.
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Databricks raises over $500 million at $43 billion valuation
Economic Times
·
1y ago
Medial
Databricks, a data and AI company, has secured over $500 million in funding at a valuation of $43 billion. The funds will be used to accelerate innovation in data and AI and expand the company's global footprint. Databricks provides an open and unified platform for data engineering, data science, and machine learning. The funding round was led by investment firms Andreessen Horowitz, T. Rowe Price, and Tiger Global.
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