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Databricks announced that Meta has joined it as an investor in the Series J funding round, which was organized to raise funds for expansion and new product development.
Image source: Meta
Ali Godsi, CEO and Co-founder of Databricks said that it naturally made sense to deepen its partnership with Meta as Databricks is already a part of Llama, Meta’s open-source LLM.
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Last year, Databricks released its own LLM, DBRX. It performed well initially but was later surpassed by other models.
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Ghodsi added that the alliance with Meta is reasonable as it has money for training models, and they can use their money in other ways.
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In addition to Meta, Databricks also secured funding from investors such as the Qatar Investment Authority, Temasek, and Macquarie Capital, bringing in $10 billion.
Image source: Canva
Databricks acquired a credit facility worth $5.25 billion from JP Morgan Chase, Barclays, Citi, Goldman Sachs, and Morgan Stanley, raising a total of $15 billion.
Image source: Canva
Tech giants like Meta are increasingly investing in AI startups as AI technology is widely adopted in different domains.
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