Thursday , May 13 2021

Microsoft invests in 750 billion worth of "boring AI" startups.

Databricks Inc., which creates software that allows companies to meet their "boring AI" needs, sought new funding worth $ 2.75 billion.

Microsoft has invested $ 250 million in funding. Andreessen Horowitz, a venture company, led the deal with contributions from Coatue Management and New Enterprise Associates. With this investment, Databricks has been raising about $ 500 million in funding since it was founded in 2013.

Databricks sells tools to gather meaningful information by gathering company databases and applying artificial intelligence forms. A San Francisco-based venture company reported sales of $ 100 million last year, with subscription sales tripling from the previous quarter.

Viacom Inc., HP and Cisco Systems have over 2,000 customers. Microsoft will promote this software version as part of the cloud product Azure.

Ali Ghodsi, chief executive of Databricks, said he plans to hire new capital to open a new office and enter other industries like the media, retail and government. DataBricks "meet the needs of large enterprise customers who want to perform tedious AI use cases."

Read Now: Microsoft Launches Desktop App Assure – Easily Go to Windows 10

Source link