Palantir rival Databricks reportedly hit a $100 billion valuation after a Series K investment.

It's no secret that investors have gone bananas for artificial intelligence (AI) stocks over the past few years. What's a little peculiar, though, is how concentrated the AI trade has become -- dominated by the " Magnificent Seven " and a handful of high-profile outliers, one of the most widely discussed being data mining specialist Palantir Technologies ( PLTR 1.60% ) .

Palantir isn't alone. One of its closest rivals in enterprise software is Databricks , a data warehouse platform that just found its name in the headlines. Earlier this week, Databricks announced a fresh funding round that valued the company at over $100 billion. For context, Palantir's market cap sits around $340 b

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