AIkido Pharma Secures Interest in Databricks Inc.

Rhea-AI Summary

AIkido Pharma Inc. (Nasdaq: AIKI) has successfully acquired an economic interest in Databricks Inc., a privately held company known for its innovative database solutions and AI capabilities. This acquisition is now reflected on AIkido's balance sheet. Databricks was recently highlighted as a top upcoming IPO, having raised $1.6 billion in 2021 at a $38 billion valuation, with revenues projected to exceed $1 billion in 2022. Notable investors include Microsoft, which has integrated Databricks into its Azure cloud services.

Positive

• Acquisition of an economic interest in Databricks could enhance AIkido's position in the data and AI sector.
• Databricks' projected revenue exceeds $1 billion for 2022, indicating strong business performance.

Negative

• None.

Data and AI Company and a Pioneer of the Cutting-Edge Database Architecture

NEW YORK, May 12, 2022 /PRNewswire/ -- AIkido Pharma Inc. (Nasdaq: AIKI) ("AIkido" or the "Company") today announced that the Company, through a fund that owns the stock, has acquired an economic interest in privately held Databricks Inc.  (https://databricks.com/company/about-us).  The acquisition has been funded and closed, and the asset is on the Company's balance sheet.

In an April 25, 2022, article, Kiplinger listed Databricks as one of the "13 Hot Upcoming IPOs to Watch For in 2022," reporting that "in August 2021, … the firm raised $1.6 billion at a $38 billion valuation in a funding round led by Morgan Stanley fund Counterpoint Global." (https://www.kiplinger.com/investing/stocks/ipos/604149/hot-upcoming-ipos-to-watch-for-2022).  Similarly, in March 2022, Forbes listed Databricks as one of the "10 Upcoming IPOs to Watch," estimating an IPO in mid-2022 (https://www.forbes.com/advisor/investing/upcoming-ipos/).  According to the article, "Databricks has become a leading purveyor of tools designed to simplify database management, implement AI and even just do great data visualization.  The company claims to have more than 5,000 clients in 19 countries and says it's on track to generate $1 billion plus in 2022 revenue, up more than 75% year over year." Included in Databricks's list of investors are BlackRock, CapitalG, Fidelity, Microsoft and Andreessen Horowitz (https://databricks.com/company/about-us). 

Yahoo! Finance has reported that "Microsoft Corp. is both a Databricks investor and a partner, integrating a version of the startup's software into its cloud product, Microsoft Azure."  (https://www.yahoo.com/now/microsoft-backed-databricks-plans-ipo-000123816.html).  According to the company's website, "Databricks Lakehouse runs on every major public cloud, tightly integrated with the security, compute, storage, analytics and AI services natively offered by the cloud providers," which, in addition to Microsoft Azure, include Amazon Web Services, Google Cloud and Alibaba Cloud. (https://databricks.com/company/partners/cloud-partners).

About AIkido Pharma Inc.

AIkido Pharma Inc. was initially formed in 1967 and is a biotechnology Company with a diverse portfolio of small-molecule anticancer and antiviral therapeutics. The Company's platform consists of patented technology from leading universities and researchers, and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and University of Maryland at Baltimore. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, prostate cancer. We are constantly seeking to grow our pipeline to treat unmet medical needs in oncology. The Company is also developing a broad-spectrum antiviral platform that may potentially inhibit replication of multiple viruses including Influenza virus, SARS-CoV (coronavirus), MERS-CoV, Ebolavirus and Marburg virus.

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations: 

Hayden IR 
Brett Maas, Managing Partner 
Phone: (646) 536-7331 
Email: brett@haydenir.com 
www.haydenir.com

AIkido Pharma Inc. 
Phone: 212-745-1373 
Email: investorrelations@aikidopharma.com 
www.aikidopharma.com

 

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SOURCE AIkido Pharma Inc.

FAQ

What recent acquisition has AIkido Pharma made?

AIkido Pharma has acquired an economic interest in Databricks Inc.

What is the significance of Databricks to AIkido Pharma?

Databricks is a leader in database management and AI, potentially boosting AIkido's market presence.

What is Databricks' projected revenue for 2022?

Databricks is projected to generate over $1 billion in revenue for 2022.

When was the acquisition of Databricks announced?

The acquisition was announced on May 12, 2022.