Data and AI company Databricks is one of the most valuable pre-IPO tech companies, Roth MKM analysts said in a Thursday note.
The company, which has secured around $4 billion in venture capital funding, is currently valued at an estimated $43 billion post-money, as per Pitchbook data, positioning it among the most valuable pre-IPO tech firms. “Cloud Infrastructure for AI models continues to evolve at a rapid pace, and we believe early wins in AI infrastructure could lay the foundation for long-term outperformance vs. peers,” the analysts added.
During the event, Databricks said that over 1,500 companies are now training transformer models on their platform and its GPU usage has increased by 25% month-over-month over the past several months.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.