Databricks logo is seen in this illustration taken December 17, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -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 fast-growingartificial intelligence startups.
The company said it has signed a term sheet for a very late-stage, or Series K, round, which would make it one of the world's most valuable AI companies. It isnearing a funding round of more than $1 billion from existing investors including Thrive Capital, Insight Partners and Andreessen Horowitz, according to a person familiar with the matter.
