Databricks has successfully closed its Series J funding round, securing a substantial $15.25 billion. The round includes a mix of existing and new investors, with QIA, the sovereign wealth fund of the State of Qatar, playing a significant role. Joining the funding round are new investors such as Temasek and entities managed by Macquarie Capital, alongside Meta, which also enters as a strategic investor. This influx of capital brings Databricks’ total valuation to an impressive $62 billion.

The company plans to channel the funds into expanding its artificial intelligence (AI) product portfolio, making strategic acquisitions, and further boosting its international go-to-market operations. Additionally, the funds will be used to provide liquidity to current and former employees, along with settling any related tax obligations.

Databricks didn’t just raise equity financing—it also secured a $5.25 billion credit facility. The facility, which was led by JPMorgan Chase with support from Barclays, Citi, Goldman Sachs, and Morgan Stanley, features a mix of a $2.5 billion unfunded revolver and a $2.75 billion term loan, backed by a range of prominent financial institutions and alternative asset managers.

“We received overwhelming interest in this round from both new and existing investors and strategic partners who believe in our vision and market impact. These partners are focused on the long-term success of Databricks and our rapidly growing customer base,” said Ali Ghodsi, Co-Founder and CEO of Databricks. “Organizations are modernizing their data and AI infrastructure because they recognize the immense potential of generative AI. Data intelligence is critical to both unlocking this potential and to helping enterprises reach their business goals.”

Databricks is positioning itself as a leader in the field of data intelligence. The company’s Data Intelligence Platform democratizes access to data and AI, empowering organizations to leverage their data for powerful applications in analytics, machine learning, and AI. Built on an open-source foundation, the platform is designed to drive innovation, helping businesses to enhance revenue, reduce costs, and mitigate risks. It has already been instrumental in transformative work, from detecting financial fraud to identifying new ways to combat climate change, from improving healthcare outcomes to reducing local financial inequality.

Databricks’ commitment to innovation is supported by investors like QIA, which has deepened its stake in the company. Mohammed Saif Al-Sowaidi, CEO of QIA, expressed his strong belief in Databricks’ future, saying, “We are excited to deepen our commitment to Databricks through this follow-on investment, underscoring our strong conviction in the company’s leadership and strategic positioning. At QIA, we are expanding our exposure across the AI ecosystem and believe Databricks has become the leading platform within the AI infrastructure software space.”