SA国际传媒

Wednesday that it will acquire database management platform in a deal reportedly valued at .

The planned purchase is one of to date for San Francisco-based Databricks, which looks well-capitalized for more deals going forward. The AI data unicorn raised $10 billion in a late-stage venture funding five months ago at a $62 billion valuation, alongside $5.3 billion in debt financing.

With its Neon purchase, Databricks CEO said the company is looking to sharpen its edge in an 鈥渆ra of AI-native, agent-driven applications.鈥� Per Ghodsi, a good part of Neon鈥檚 appeal was that 80% of the databases provisioned on its platform were created automatically by AI agents rather than by humans.

Databricks is willing to pay handsomely for that use case. Per SA国际传媒 data, the Neon purchase appears to be the second-most-expensive聽1 to date for Databricks, after its $1.3 billion purchase of generative AI startup two years ago.

As a startup, Neon also attracted attention and good-sized checks from venture and strategic investors. Founded in 2021, the Silicon Valley company raised about $130 million in known venture funding to date, with lead investors including 鈥檚 and .

For Databricks, the Neon acquisition comes amid a period of sharp growth. Per a posted on the company鈥檚 website, annualized revenue is expected to reach $2.4 billion by the midpoint of this year. The company also projects that annualized sales for the first half of this year will be up 60% from a year earlier.

Databricks鈥� purchase of Neon isn鈥檛 a done deal yet, as it will require regulatory approval.

Related SA国际传媒 lists:

Related reading:

• Databricks Raises $10B In 2024鈥檚 Largest Venture Funding Deal
• Databricks Buys Generative AI Startup MosaicML For $1.3B

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