Data and AI firm Databricks signed a definitive agreement to acquire generative AI startup MosaicML. The deal is worth $1.3B. The acquisition will enable Databricks to empower clients to develop their own generative AI models based on their proprietary data. Databricks CEO and co-founder Ali Ghodsi said, "Every organization should be able to benefit from the AI revolution with more control over how their data is used." - MosaicML's large language models will be incorporated with the Databricks Lakehouse Platform.
- Databricks claims that the platform will be able to deliver 2x to 7x faster model optimization speeds than traditional approaches.
- To date, MosaicML has raised $64M from investors, including DCVC, AME Cloud Ventures, Lux, Frontline, and Samsung Next.
- The price paid for the acquisition represents a six-fold increase over MosaicML's last known valuation of $222M.
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