AI giant Databricks is spending $416 million to expand in Australia

Databricks, a private US artificial intelligence software company that counts some of Australia’s largest companies among its customers and has been touted for a major initial public offering, plans to invest $416 million over the next two years to expand its Australian operations.

The 13-year-old company is valued at US$134 billion ($186 billion) and has raised over $20 billion from major US venture capital firms such as Andreessen Horowitz (a16z) and sovereign wealth funds such as Australia’s Future Fund.

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