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- Databricks raises $10B at $62B valuation amid AI-driven analytics boom
Databricks raises $10B at $62B valuation amid AI-driven analytics boom
Bay Area Times
December 18, 2024
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Top stories today:
- Databricks raises $10B at $62B amid AI-driven analytics boom
- OpenAI updates o1 model, expands it to API for certain developers
- Fed expected to cut rates by 25 bps today at 2 PM ET
- Google unveils FACTS Grounding benchmark to evaluate LLM factuality
- Nissan explores merger with Honda, driving record share surge
- U.S. retail sales exceed expectations on jump in automobile
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of the few hallucinations):
1. Databricks raises $10B at $62B valuation amid AI-driven analytics boom
4th most highly valued U.S.-based startup after SpaceX, OpenAI, and Stripe.
“Non-dilutive,” suggesting the transaction was purely secondary.
IPO expected in 2025.
Thrive Capital led the round, with a16z, DST Global, GIC, and GIC among key investors.
+57% YoY in revenue to $2.6B projected for the fiscal year ending in Jan.
-5% YoY in operating loss to $418M projected.
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3. OpenAI updates o1 reasoning model, expands it to API for certain developers
“Improves on areas of model behavior based on feedback,” OpenAI said:
o1 in the API comes with support for function calling, developer messages, Structured Outputs, and vision capabilities.
Developers on “Tier 5” (requiring $1K in spend) can access o1 in the API.
$15/$60 per 1M tokens for input/output, vs. $2.5/$10 for GPT-4o.
4. Fed expected to cut rates by 25 bps today at 2 PM ET
