India, Aug. 20 -- Databricks, the company founded by the original creators of Apache Spark, announced it has signed a term sheet for a Series K funding round that values the company at over USD 100 billion. The funding is expected to close soon, with support from existing investors. The new capital will be used to advance the company's AI strategy.

The company plans to use the funds to expand its product offerings, including Agent Bricks and Lakebase, and to support global expansion. The investment will also help fund future AI acquisitions and deepen research efforts.

At the June Data + AI Summit, Databricks launched Agent Bricks, a product designed to build production AI agents using enterprise data. It also introduced Lakebase, a new...