The article discusses Databricks, a data and AI company, raising $633 million in a funding round led by investment firms Counterpoint Global and Iconiq Capital. This round values Databricks at $38 billion, making it one of the most valuable private AI companies globally. The funding will be used to accelerate Databricks’ AI strategy, including expanding its AI cloud offerings and investing in AI research and development. Databricks aims to become the data and AI platform of choice for enterprises, enabling them to leverage AI across their organizations. The company’s CEO, Ali Ghodsi, believes AI will be transformative for businesses and that Databricks is well-positioned to help companies thrive in the AI era. The article highlights Databricks’ growth, with over 7,000 customers and a projected $1 billion in annual recurring revenue by 2024.