Dec 17 Reuters Databricks said on Tuesday it had secured a valuation of 62 billion after a 10 billion funding round led by Thrive Capital, highlighting the robust demand for artificial intelligencefocused startups.

The data and analytics company will invest the funds in new AI products and acquisitions while expanding its international footprint.

The massive fundraise highlights Silicon Valley39;s unprecedented appetite for companies capitalizing on the AI boom.

Investment firms Andreessen Horowitz, DST Global, GIC, Insight Partners, and WCM Investment Management coled the round. Ontario Teachers39; Pension Plan, ICONIQ Growth, MGX, Sands Capital, and Wellington Management also participated.

Reuters reported last week that the round could exceed the company39;s original goal and was higher than previously discussed earlier.

Reporting by Niket Nishant in Bengaluru; Editing by Tasim Zahid

Source Reuters