Databricks eyes over $100 billion valuation as investors back AI growth plans

Analytics firm Databricks said on Tuesday its valuation was set to jump 61% to more than $100 billion in a funding round less than a year after its last, underscoring strong investor demand for artificial intelligence startups.

The San Francisco, California-based company – with 15,000 customers, including payments firm Block, energy giant Shell and electric-vehicle maker Rivian – said it has signed a term sheet for a Series K round, but did not disclose the amount it was raising.