Summary Databricks Strikes $1.3 Billion Deal for Generative AI Startup MosaicML - WSJ www.wsj.com
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Databricks has agreed to acquire generative AI startup MosaicML for $1.3 billion, aiming to enhance its machine learning capabilities and strengthen its position in the AI market.
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Key Points
- Databricks has agreed to acquire MosaicML, a generative AI startup, in a $1.3 billion deal.
- The acquisition aims to connect businesses' data with MosaicML's language-model platform, allowing them to build low-cost technology.
- Databricks will combine its AI-ready data-management tools with MosaicML's language models trained on publicly available data.
- The deal is expected to strengthen Databricks' position in the AI market and expand its customer base.
- The global generative AI market is projected to reach $42.6 billion by the end of the year.
Summary
249 word summary
Databricks has reached a $1.3 billion deal to acquire generative AI startup MosaicML. Databricks, valued at $38 billion, offers technology that prepares and manages business data for AI applications. The global generative AI market is expected to reach $42.6 billion by the end of the year. MosaicML aims to provide customized AI models at a lower cost. Large language models like OpenAI's ChatGPT can be expensive to train and may contain extraneous information. The deal is expected to close in Databricks' second quarter. Databricks has agreed to acquire generative artificial intelligence startup MosaicML in a deal valued at roughly $1.3 billion. The deal aims to connect businesses' data with MosaicML's language-model platform, enabling them to build their own low-cost technology. Databricks, a data storage and management startup based in San Francisco, says the deal combines its AI-ready data-management tools with MosaicML's language models trained on publicly available data. The acquisition is a major step for Databricks in capturing the fast-growing demand from businesses to build their own ChatGPT-like models. Databricks has made a $1.3 billion deal to acquire generative AI startup MosaicML. The deal is aimed at enhancing Databricks' machine learning capabilities. The acquisition will help Databricks improve its platform for data analytics and AI applications. The move is expected to strengthen Databricks' position in the AI market and expand its customer base. The deal reflects the growing importance of AI technology in various industries. Databricks has reached a $1.3 billion deal to acquire the generative AI startup MosaicML.