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Finance

Ripple secures $200 million debt facility to expand Ripple Prime

Ripple has secured a $200 million debt facility from investment manager Neuberger Berman, with the funds to be used to grow Ripple Prime, a multi-asset prime brokerage platform aimed at U.S. institutional clients. The facility will be provided by Neuberger Berman Specialty Finance. Ripple plans to expand Ripple Prime’s credit capacity and improve service responsiveness and capital efficiency for institutional customers.

AI & Enterprise

Databricks raises $5 billion at $134 billion valuation

Cloud-based data platform Databricks raised $5 billion in funding at a $134 billion valuation, CNBC reported on Feb. 9. The round included Goldman Sachs, Gildebrook Capital, Morgan Stanley, Neuberger Berman and the Qatar Investment Authority. Databricks said it has completed preparations for a listing but plans to pursue an initial public offering at an appropriate time, considering market conditions. CEO Ali Ghodsi said investor interest was strong.