Databricks, a leading big data and AI company, is on the cusp of securing a record-breaking $9.5 billion funding round, valuing the company at a staggering $60 billion. According to Reuters, the deal is expected to close soon, with Thrive Capital leading the investment and returning investors Andreessen Horowitz, Insight Partners, and Singaporean sovereign wealth fund GIC participating.

This massive funding round surpasses OpenAI's $6.6 billion raise in October, which was also led by Thrive Capital. The deal is not only significant in terms of its size but also marks a major milestone for Databricks, which has established itself as a major player in the big data and AI space.

As part of the deal, Databricks may also take on $4.5 billion of debt, further solidifying its position in the market. The company's valuation has seen a significant jump in just 17 days, with Reuters reporting that the deal was initially valued at $8 billion and a $55 billion valuation.

Industry insiders believe that the reported $92.50 per share is a bargain, considering Databricks' biggest competitor, Snowflake, has a market capitalization of around $56 billion. Snowflake is one of the most successful IPOs in tech, and Databricks' valuation is seen as a testament to its growth and potential.

The funding round is also expected to include a secondary sale for employees, which could further increase the valuation. This move is seen as a way to reward employees and give them a stake in the company's success.

The deal is a significant win for Thrive Capital, which has established itself as a major player in the venture capital space. The firm's involvement in both Databricks' and OpenAI's record-breaking funding rounds cements its position as a leader in the tech investment landscape.

The implications of this deal are far-reaching, with Databricks' valuation set to have a ripple effect on the entire tech industry. As the company continues to grow and expand its offerings, it's likely to have a significant impact on the big data and AI space, driving innovation and competition.

In conclusion, Databricks' $9.5 billion funding round is a monumental achievement, solidifying the company's position as a leader in the tech industry. As the deal closes, all eyes will be on Databricks to see how it utilizes this massive investment to drive growth and innovation in the years to come.