Enterprise software firm Databricks is in early discussions with investors for a new cash infusion, likely totaling hundreds of millions of dollars, as it looks to capitalize on the fervor over artificial intelligence, two people familiar with the matter said.
The investment talks come as Databricks has moved closer to break-even, after losing a total of about $900 million, excluding depreciation and amortization, in its last two fiscal years. That includes a $380 million operating loss in its most recent fiscal year, ending in January, two more people said. The operating loss accompanied revenue growth of more than 70% to over $1 billion in sales, which the company has disclosed publicly.
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