Databricks To Acquire Tabular for Over USD 1 billion
CIOTechOutlook Team | Wednesday, 05 June 2024, 04:39 IST

The declaration comes when organizations are multiplying down endeavors to fabricate an environment for clients to utilize open-source AI models, in a bid to acquire market share from opponents like Snowflake and Cloudera, among others, in an exceptionally competitive market.
Tabular, established by Ryan Blue, Daniel Weeks and Jason Reid in 2021, offers an independent and universal storage platform to its customers. Databricks, based in San Francisco, California, stated that Tabular's 40 employees would join it following the transaction's completion during its second quarter, which began on July 31.
The frenzy for all around AI has ignited the requirement for powerful foundation to store and oversee corporate information, as organizations make their own huge language models after the launch of OpenAI's viral chatbot ChatGPT. Databricks' essential item is an innovation for holding gigantic troves of corporate information such that makes it simple to get to and break down. Yet, doing so still normally requires a data scientist to compose PC code that finds and controls the information.
The organization had consented to buy AI startup MosaicML in an arrangement esteemed at $1.3 billion in June last year. Databricks counts AT&T, Warner Brothers Discovery and Rivian Car, among others, as its customers.
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