Databricks raises $500M at $43B valuation amid AI expansion plans

Databricks raised over $500 million in a Series I funding round led by T. Rowe Price.
The funding values Databricks at $43 billion, making it one of the world's most valuable private companies.
New investors include Nvidia, pointing to an AI partnership, and Capital One Ventures.
Databricks reported $1.5 billion in annual revenue and has over 10,000 global customers.
The funding comes despite a downturn in late-stage startup valuations and may point to a future IPO.