FILE PHOTO: MosaicML's founding team of Hanlin Tang, Naveen Rao, Dr. Michael Carbin and Jonathan Frankle are pictured in this undated handout photo provided on October 13, 2021. Courtesy of MosaicML/Handout via REUTERS/File Photo
(Reuters) - Databricks said on Monday it has agreed to acquire generative artificial intelligence startup MosaicML in a deal valued at roughly $1.3 billion.
The deal comes at a time when Artificial Intelligence (AI) is dominating the tech industry, with rapid AI thrusts coming from big tech, including Alphabet's Google and Microsoft Corp, in recent months.
Databricks said the deal will combine its AI technology with MosaicML's language-model platform, allowing businesses "simple, fast way to retain control, security, and ownership over their valuable data without high costs".
Databricks, which sells software tools for building AI systems, also released an open-source code in March that it said companies could use to create their own chatbots, along the lines of OpenAI's ChatGPT.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Pooja Desai)
