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Mosaicml

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businesstech2 years ago

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.

via Fortune|
#acquisition#ai#businesstech
business2 years ago

Databricks acquires MosaicML for $1.3 billion in generative AI deal.

Databricks, a San Francisco-based data analytics company, has agreed to acquire AI startup MosaicML for $1.3 billion, valuing each of its 62 employees at $21 million. The deal includes retention packages for employees and marks a significant investment in generative AI for Databricks. The acquisition will allow Databricks' customers to build their own generative AI models. Databricks CEO Ali Ghodsi said the company has a high bar for hiring but was impressed by MosaicML's workers and culture. The deal is a sign of San Francisco's booming AI scene.

via SFGATE|
#acquisition#ai#business
ai2 years ago

Databricks acquires MosaicML for $1.3 billion in AI power move.

Databricks has acquired MosaicML, an AI startup focused on taking AI beyond the lab, for $1.3 billion. MosaicML's Composer program makes it easy and affordable to speed up the development of AI programs such as OpenAI's GPT. MosaicML's approach implies that whole areas of working with data, such as the traditional relational database, could be completely reinvented. The acquisition brings MosaicML into a vibrant non-relational database market that has been shifting the paradigm of a data store beyond row and column.

via ZDNet|
#ai#database#databricks
ai2 years ago

Databricks acquires OpenAI rival MosaicML for $1.3B.

Databricks has acquired MosaicML, an open-source startup with neural networks expertise, for $1.3 billion. MosaicML has built a platform for organizations to train large language models and deploy generative AI tools based on them. The deal will see MosaicML become a part of the Databricks Lakehouse Platform, providing generative AI tooling alongside the Databricks’ existing multi-cloud offerings. The acquisition highlights the demand for talent and tech in the AI space, and there is likely to be more M&A coming in this space.

via TechCrunch|
#acquisition#ai#databricks