Databricks CEO Aims for $1 Trillion Valuation with Ambitious Growth Strategy

Ali Ghodsi, the CEO and cofounder of data intelligence company Databricks, is on a mission to revolutionize the trillion-dollar valuation club. With his company reportedly in talks to raise funding at a $134 billion valuation, Ghodsi is confident that Databricks has what it takes to join the elite group of companies that have reached this milestone. But what sets Databricks apart from its competitors, and how does Ghodsi plan to achieve this ambitious goal? At Fortune's Brainstorm AI conference in San Francisco, Ghodsi laid out a clear vision for the company's future, highlighting three key areas that will drive its growth and propel it towards a $1 trillion valuation. Databricks has come a long way since its inception in 2013. Founded by Ghodsi and his team, the company has grown rapidly, with a valuation that has increased exponentially over the years. In 2020, Databricks raised $1.6 billion in funding, valuing the company at $28 billion. Fast forward to today, and the company is reportedly in talks to raise funding at a $134 billion valuation. This staggering growth is a testament to the company's innovative approach to data intelligence and its ability to adapt to the changing needs of its customers. So, what's behind Databricks' remarkable success? According to Ghodsi, the company's growth is driven by three key areas: entering the transactional database market, leveraging AI-powered coding, and expanding its presence in the cloud. The first area, entering the transactional database market, is a bold move that sets Databricks apart from its competitors. For decades, the transactional database market has been dominated by large enterprise players like Oracle, which has remained largely unchanged for 40 years. However, Databricks is determined to shake things up with its link-based offering, Lakebase, an operational database optimized for AI Agents. "We're not just talking about a new database, we're talking about a new way of thinking about data," Ghodsi explained at the Fortune conference. "We believe that the traditional transactional database market is ripe for disruption, and we're confident that Lakebase will be a game-changer in this space." Another area where Databricks is seeing significant growth is in AI-powered coding. According to Ghodsi, over 80% of the databases being launched on Databricks are not being launched by humans, but by AI agents. This is a testament to the company's ability to adapt to the changing needs of its customers and to leverage the power of AI to drive innovation. "As developers use AI tools for vibe coding, rapidly building software with AI, we're seeing a huge increase in the number of databases being launched on Databricks," Ghodsi said. "This is a clear indication that our platform is becoming the go-to destination for developers who want to build and deploy AI-powered applications." Finally, Databricks is expanding its presence in the cloud, a move that will further drive its growth and propel it towards a $1 trillion valuation. With the rise of cloud computing, companies are increasingly looking for ways to migrate their data and applications to the cloud. Databricks is well-positioned to capitalize on this trend, with its cloud-based platform offering a scalable and secure solution for companies looking to move their data and applications to the cloud. "We're seeing a huge increase in demand for cloud-based data platforms, and we're confident that our platform will be at the forefront of this trend," Ghodsi said. So, what does the future hold for Databricks? According to Ghodsi, the company is on track to achieve its ambitious goal of reaching a $1 trillion valuation. With its innovative approach to data intelligence, its ability to adapt to the changing needs of its customers, and its expansion into new markets, Databricks is well-positioned to join the elite group of companies that have reached this milestone. "We're not just talking about a $1 trillion valuation, we're talking about a new era of data-driven innovation," Ghodsi said. "We believe that our platform will be at the heart of this revolution, and we're excited to see where it takes us." As Databricks continues to grow and evolve, one thing is clear: the company is on a mission to revolutionize the trillion-dollar valuation club, and it's not going to stop until it reaches its ambitious goal. With its innovative approach to data intelligence, its ability to adapt to the changing needs of its customers, and its expansion into new markets, Databricks is well-positioned to join the elite group of companies that have reached this milestone.