Databricks, a prominent player in the artificial intelligence and data analytics sector, has announced a significant funding round, aiming to raise $10 billion in its Series J investment. This funding round values the company at an impressive $62 billion.

The company has reported over 60% year-over-year growth in the third quarter ending October 31, 2024, and expects to surpass a $3 billion revenue run-rate by the end of the current quarter.

Some other key figures:

- Growing over 60% year-over-year in the third quarter ended October 31, 2024

- Expecting to cross $3 billion revenue run-rate and be free cash flow positive in the fourth quarter ending January 31, 2025

- Continuing to achieve non-GAAP subscription gross margins above 80%

- Having 500+ customers consuming at over $1 million annual revenue run-rate

- Achieving $600 million revenue run rate for Databricks SQL, the company’s intelligent data warehousing product, up more than 150% year-over-year.

- More than 10,000 organizations worldwide — including Block, Comcast, Condé Nast, Rivian, Shell and over 60% of the Fortune 500