(Reuters) – Databricks said on Wednesday it has agreed to buy database startup Neon in a deal valued at about $1 billion, as the data analytics company aims to bolster its capabilities in AI-powered data management.
San Francisco-based Databricks said the deal address a challenge businesses face when deploying AI agents, specifically the speed at which they can link up the necessary data to run their services.
Databricks, which secured a $62 billion valuation after raising a whopping $10 billion last year, offers a platform designed to help users ingest, analyze and build artificial intelligence applications using complex data from various sources.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Tasim Zahid)
