Databricks, a San Francisco, CA-based data and AI company, acquired MosaicML, a US provider of a generative AI platform.
The transaction, which is subject to customary closing conditions, including any required regulatory clearances, is valued at approximately $1.3B, inclusive of retention packages. The entire MosaicML team, including MosaicML’s research team, is expected to join Databricks after the transaction closes.
Together, Databricks and MosaicML will make generative AI accessible for every organization, enabling them to build, own and secure generative AI models with their own data.
Led by CEO Naveen Rao, MosaicML is a provider of a generative AI platform that empowers enterprises to build their own AI. Its research and engineering teams conduct scientific research to build products that make it easy for anyone to train learning models. The company enables developers to maintain a control over the AI models they build with model ownership and data privacy built into the platform’s design. The company is known for its MPT large language models (LLMs). With over 3.3 million downloads of MPT-7B and the recent release of MPT-30B, MosaicML has showcased how organizations can quickly build and train their own models using their data in a cost-effective way. Customers such as AI2 (Allen Institute for AI), Generally Intelligent, Hippocratic AI, Replit and Scatter Labs leverage MosaicML for a wide variety of generative AI use cases.
Led by CEO Ali Ghodsi, Databricks is a data and AI company. More than 10,000 organizations worldwide — including Comcast, Condé Nast, and over 50% of the Fortune 500 — rely on its Lakehouse platform to unify their data, analytics and AI.
FinSMEs
26/06/2023