San Francisco, June 27: US-based data and AI company Databricks has entered into a definitive agreement to acquire MosaicML, a leading generative AI platform for approximately $1.3 billion.

With this acquisition, the company said it will make generative AI accessible for every organisation, enabling them to build, own and secure generative AI models with their own data. ThoughtSpot Expands India Footprint: AI-Driven Analytics Company Acquires BI Platform Mode Analytics for USD 200 Million.

"Databricks and MosaicML’s shared vision, rooted in transparency and a history of open source contributions, will deliver value to our customers as they navigate the biggest computing revolution of our time," Ali Ghodsi, Co-Founder and CEO, Databricks, said in a statement.

Moreover, the company said that the Databricks Lakehouse Platform, combined with MosaicML’s technology, will offer customers a simple, fast way to retain control, security, and ownership over their valuable data without high costs.

Databricks' unified Data and AI platform combined with MosaicML's generative AI training capabilities will provide a platform robust enough to serve the world's largest organisations and flexible enough to address a broad range of AI use cases.

"Together with Databricks, we will tip the scales in the favour of many - and we'll do it as kindred spirits: researchers turned entrepreneurs sharing a similar mission. We look forward to continuing this journey together with the AI community," Naveen Rao, Co-Founder and CEO, MosaicML, said in a statement. Chingari Replies After Report Claimed It’s Turning Into Adult Entertainment App via Its Paid 1-on-1 Video Call Feature.

MosaicML's platform will be supported, scaled, and integrated over time to provide customers with a unified platform on which to build, own, and secure their generative AI models.

(The above story first appeared on LatestLY on Jun 27, 2023 02:04 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).