Databricks is on track to raise a record $9.5 billion at a $60 billion valuation

Databricks is close to closing a $9.5 billion round at a $60 billion valuation, including a secondary sale to employees that could raise further before closing, This is reported by Reuters. Just 17 days ago This was reported by Reuters reported that the deal was worth $8 billion and $55 billion. Thrive Capital is leading the deal with returning investors Andreessen Horowitz, Insight Partners and Singaporean sovereign wealth fund GIC.

This is bigger OpenAI’s $6.6 billion raise in October is the largest round of all timealso run by Joshua Kushner’s Thrive (pictured). Databricks may also take on $4.5 billion in debt as part of this deal.

Despite the surprising numbers, VCs feel that at $92.50 per share, Databricks’ biggest competitor is Snowflake, one of tech’s most successful IPOs. That company is currently one market value of about 56 billion dollars.