Databricks reported an operating loss of $380 million for its fiscal year 2023, which ended in January. This contributed to a total loss of approximately $900 million over the last two fiscal years. Despite these losses, the company seeks to raise hundreds of millions of dollars in fresh funding to fuel its generative AI push.

The company has attributed these losses to its significant investments in research and development, sales, and marketing. It also experienced a slowdown in growth due to the challenging economic conditions. However, Databricks remains optimistic about its prospects, as it continues to see strong demand for its products and services. It is also confident that it can achieve profitability in the long term.