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Trading activities of members of Congress, including former Speaker of the House of Representatives nancy pelosi (D-Calif.) has received increasing attention from retailers in recent years.
Pelosi is currently investing in leading private data and artificial intelligence companies, according to recent transaction disclosures.
what happened: Over the past year, Pelosi has revealed huge investments in tech giants. Nvidia Inc. 
NVDA and Palo Alto Networks, Inc. 
Panwoo.
Recent filings show Pelosi and her venture capitalist husband paul pelosi Acquired between $1 million and $5 million of stock in a data services and artificial intelligence company. data brick.
This investment was made using a secondary market platform. strengthen investment According to a filing shared by CongressTrading with X.
“Databricks is a San Francisco-based engineering and analytics software company based on AI technology,” the disclosure states.
Ms. Pelosi is a member of California’s 11th District in the U.S. House of Representatives. This region includes San Francisco, where Databricks is based.
Related Link: 10 Best Stock Traders for Congress in 2023 (Spoiler: Nancy Pelosi rejoins the chat)
Why it’s important: The investment from Pelosis brings them into partnership with several other prominent investors in Databricks.
Databricks’ investors include Nvidia and Cathie Wood’s Ark Venture Fund.
Ark Venture Fund was established in 2022 to provide investors with access to private companies. At the end of 2023, Databricks was the fund’s fourth largest holding, accounting for 5.7% of assets.
Databricks raised $500 million in funding in September, valuing the company at $43 billion. T. Rowe Price Group Inc. 
trow Led the investment round.
Other investors were included in the September funding round. Andreessen Horowitz, Baillie Gifford, ClearBridge Investments, Fidelity Management, Franklin Templeton, Counterpoint Global, Ontario Teachers’ Pension Plan and Capital One Financial Corporation 
C.O.F..
“Databricks and Nvidia are building groundbreaking AI technology and we are excited about the business value and innovation we can bring to our customers,” said Databricks CEO and Co-Founder. Ali Godoshi he said at the time.
NVIDIA CEO jensen fan He praised the company along with Nvidia’s investment in this round.
“Enterprise data is a gold mine for generative AI,” says Huang. “Databricks is doing great work using Nvidia technology to accelerate data processing and generative AI models.”
In March, Databricks reported 2023 revenue of $1.6 billion, up 50% from the previous year. According to TechCrunch, the company’s growth rate is outpacing that of publicly traded software companies.
An IPO is not planned for Databricks, but the company is one of many companies that may be considering going public in the future.
With investors including Pelosi, Ark Funds, and Nvidia, the IPO is sure to attract a lot of attention.
Read next: Pelosi loves Palo Alto Networks stock, but so do other top-performing traders in Congress
Images created using Ark Invest photos; Shutterstock.com and gage skidmore with flickr
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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