Databricks · AI Agent · San Francisco · Snowflake · CNBC Technology
Databricks sales growth tops 80%, but margin are shrinking from swarm of AI agents
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Key facts
- Databricks told analysts at the conference that annualized revenue jumped over 80% from a year earlier and now sits at $6.9 billion, up from a figure of $5.4 billion in the fiscal fourth quarter
- With a private market valuation of $134 billion, Databricks is worth more than rival Snowflake, which went public in 2020 and now has a market cap of about $83 billion
- On Tuesday, Databricks said it would buy Panther, a security startup valued at $1.4 billion in 2021, and it unveiled CustomerLake software for managing marketing data
- It's the consumption-based business model, agentic AI coming," Databricks CEO Ali Ghodsi told CNBC at the company's Data and AI Summit in San Francisco
Summary
"It's the consumption-based business model, agentic AI coming," Databricks CEO Ali Ghodsi told CNBC at the company's Data and AI Summit in San Francisco. Databricks told analysts at the conference that annualized revenue jumped over 80% from a year earlier and now sits at $6.9 billion, up from a figure of $5.4 billion in the fiscal fourth quarter. With a private market valuation of $134 billion, Databricks is worth more than rival Snowflake, which went public in 2020 and now has a market cap of about $83 billion. Databricks continues to sit on the sidelines of the public market even as its fellow highly valued peers line up for IPOs.