Databricks and MosaicML Seal $1.3 Billion A.I. Deal at Data + AI Summit

Databricks, a data-analytics company valued at $38 billion, acquired MosaicML, a startup disrupting the AI sector, in a $1.3 billion deal. The CEOs of both companies, Ali Ghodsi and Naveen Rao, met at a conference and discovered their shared goals of democratizing AI and prioritizing enterprise solutions. Despite initial reluctance, Ghodsi made an offer to Rao, who saw Databricks as the only suitable partner. Negotiations ensued, with Rao's persuasive arguments leading to a stock deal and strong alignment between the two companies. The acquisition closed in June, with MosaicML now operating as a self-contained group within Databricks.