AI company Databricks raises at least $5 billion at $55 billion valuation to help employees cash out

Artificial intelligence company Databricks has raised at least $5 billion in its latest round of financing, but given that this round of financing is ongoing, the final financing amount may be as high as $8 billion, with a post-investment valuation of $55 billion, and may exceed OpenAI's largest round of financing this year, according to several people familiar with the matter. One of the people familiar with the matter said that the latest round of financing is intended to help Databricks employees sell their shares. Reducing the pressure on employees to cash out also reduces the need for liquidity events such as IPOs. This round of financing makes Databricks' highly anticipated IPO less urgent, but it may still happen in the second half of next year. (CNBC)