Databricks CEO Rudi Nicoll drives a $100B valuation investment in order to develop the AI database Lakebase and the Agent Bricks transformation platform for the enterprise.

TechCrunch reports that Databricks is near closing a new USD 1 billion funding round at a USD 100 billion valuations. Although the oversubscribed round underscores a high degree of interest among investors, the company denies that it is in need of an operational cash inflow since its previous funding round, which was about 10 billion dollars.

CEO Ali Ghodsi has announced that the funds will speed up two strategic initiatives, such as Lakebase, which is a database that is designed to host AI agents, and Agent Bricks, which is a platform. Lakebase is built on Postgres and designed to accommodate the deluge of databases created by AI-powered applications and not by people, a counter to the existing dominant database formats created by human beings. 80% of new databases are now built using AI.

The CEO said that Databricks' strategy, which bundles compute and storage, will make affordability at scale possible. He put this in the language of competitive advantage over rivals like Supabase.

According to the CEO, however, the real potential is not in super-intelligence but in business automation with the help of practical AI agents that can facilitate employee onboarding and HR queries and the like. He also noted the problem of attracting the best AI talent, which is part of the reason why a funding round was done.

This most recent sum has brought Databricks to raise approximately 20 billion since the creation of the company in 2013, cementing itself in the elite category of leading AI-powered enterprise solutions.