Databricks, one of the most valuable privately held companies, announced a $10 billion financing on Tuesday that values the software maker at $62 billion. Databricks sells software for analyzing and cleaning up data, and it also runs artificial intelligence models for clients. The company expects to generate positive free cash flow for the first time with a $3 billion revenue run rate in the quarter that ends on Jan. 31, Databricks said. Technology investors have been anticipating a Databricks initial public offering for years. "If we were going to go, the earliest would be, let's say mid next year or something like that," Ali Ghodsi, Databricks' co-founder and CEO, said at the Cerebral Valley AI Summit in November.

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Persons: Databricks, Jan, Andreessen Horowitz, Ali Ghodsi, Ghodsi Organizations: Google, Microsoft, Investors, DST, Insight Partners, WCM Investment Management, Wellington Management . Technology, Summit Locations: Sands