Thursday, February 13, 2025
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HomeNewsMeta Invests in Leading Data Platform Databricks

Meta Invests in Leading Data Platform Databricks

Databricks has procured $10 billion in funding from investors such as Meta, Qatar Investment Authority, Temasek, and Macquarie Capital. It has also secured a credit facility of $5.25 billion from JP Morgan Chase, Barclays, Citi, Goldman Sachs, and Morgan Stanley. This brings its total funding to nearly $15 billion.

On January 22, 2025, Databricks announced that Meta had joined as a strategic investor in a $10 billion funding round. The company intends to use the money raised through fundraisers for expansion and product development.

Qatar Investment Authority, Temasek, and Macquarie Capital are other investors who have contributed to the Series J funding round. Databricks has also acquired a credit facility of $5.25 billion from JP Morgan Chase, Barclays, Citi, Goldman Sachs, and Morgan Stanley.

Founded in 2013, Databricks is a San Francisco-based data analytics and artificial intelligence company. It is already a part of Meta’s Llama, a collection of LLMs developed by Meta.

Read More: Meta’s Robotic Hand to Enhance Human-Robot Interactions    

Ali Ghodsi, Databricks’s CEO and Co-founder, said, “Thousands of customers are using Llama on Databricks, and we have been working closely with Meta on how to best serve those enterprise customers with Llama. It naturally made sense for both parties to deepen that partnership through this investment.”

Last year, Databricks released its own open-source LLM called DBRX. It initially performed better than Meta’s Llama and some other models but was soon surpassed by them in efficiency. Ghodsi added that it is reasonable for them to ally with Meta, which has plenty of money to spend on model training. Databricks can utilize its money in other ways.

There has been a surge in investment in AI startups due to the increasing adoption of AI after the success of OpenAI’s ChatGPT.

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Analytics Drift
Analytics Drift
Editorial team of Analytics Drift

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