Databricks in Talks with T. Rowe Price for $43B Valuation, Eyes Expansion

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.