Software maker Databricks Inc is discussing a new funding round with T. Rowe Price Group, Inc TROW to value the company at $43 billion.
The company bagged a valuation of $38 billion two years ago in funding led by Counterpoint Global, Bloomberg reports.
Databricks provides tools for data, analytics, and artificial intelligence.
In 2023, Databricks shared its plans to launch Dolly, a large language model to help customers build their ChatGPT-like generative AI applications.
The company said it had hit $1 billion in annual revenue in June. Also, it shared plans to acquire a generative AI platform, MosaicML, for about $1.3 billion.
Last week, CEO Ali Ghodsi said the company was well-capitalized and said it might consider doing so for strategic reasons.
Two weeks back, reports indicated Microsoft Corp's MSFT plans to sell a new version of Databricks software.
Microsoft looks to sell the software through its Azure cloud-server unit.
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