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Databricks Strikes $1.3 Billion Deal for Generative AI Startup MosaicML

Databricks acquires MosaicML for $1.3bn to build low-cost language models using proprietary data. Generative AI market to reach $42.6bn by end of 2023.

Databricks to acquire MosaicML for $1.3 billion.
Aims to provide businesses with low-cost language models built using proprietary data.
MosaicML's generative AI platform offers similar models at lower costs than third-party language models.
Deal expected to close by end of Q2 2023.
Global generative AI market expected to reach $42.6 billion by end of 2023.

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