Data analytics platform Databricks has confirmed that it has closed a previously announced $10 billion in Series J equity financing, valuing the company at a staggering $62 billion. This significant investment marks a major milestone for the San Francisco-based company, which has now raised around $19 billion in financing over its 12-year history.

In addition to the equity financing, Databricks has also secured $5.25 billion in debt financing, funded by a consortium of leading financial institutions and alternative asset managers, including JPMorgan Chase, Barclays, Citi, Goldman Sachs, and Morgan Stanley. This combined financing will provide Databricks with the necessary resources to further accelerate its growth and expansion plans.

Founded in 2013, Databricks has established itself as a leading provider of data analytics solutions, enabling companies to pool and analyze vast amounts of data from disparate systems to gain valuable insights. For instance, a retailer might use Databricks to combine different datasets to determine what products sell best, at what times of year, and to forecast inventory requirements. The company's platform has become increasingly important in the burgeoning AI revolution, serving as a unified platform for preparing data for building and deploying machine learning models.

The Series J round, first announced in December, has brought in a slew of notable new and existing investors, including Temasek, Qatar's sovereign wealth fund, QIA, and Facebook's parent company Meta, which has joined as a "strategic investor." This investment is part of a growing trend of corporate investment into AI-aligned companies, with Meta also participating in a $1 billion investment into data-labeling startup Scale AI last year.

The significance of Databricks' funding cannot be overstated, as it highlights the growing importance of data analytics and AI in the modern business landscape. With its new valuation of $62 billion, Databricks has cemented its position as a leader in the data analytics space, and its continued growth and expansion plans are likely to have a significant impact on the industry as a whole.

As the AI revolution continues to gain momentum, companies like Databricks are poised to play a critical role in shaping the future of business and technology. With its unified platform for data analytics and machine learning, Databricks is well-positioned to help companies unlock the full potential of their data, driving innovation and growth in the process.

As the industry continues to evolve, it will be interesting to see how Databricks utilizes its new funding to drive growth and expansion, and how its continued success will shape the future of data analytics and AI.