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Investing.com -- Databricks is finalizing a new funding round that would value the data-analytics software company at $100 billion, representing a 61% increase from its last valuation in December, the Wall Street Journal reported on Tuesday.
Thrive Capital is set to co-lead the new funding round, the report said, citing people familiar with the matter.
While the size of the round has not yet been determined, Andreessen Horowitz is also planning to invest in the company.
The significant valuation jump comes less than a year after Databricks was valued at $62 billion.
The company has benefited from the ongoing artificial intelligence boom, which has driven demand for its data analytics solutions.
The funding details are still being finalized, with Databricks expected to bring in additional co-lead investors before completing the round.
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