Nancy Pelosi, Cathie Wood, NVIDIA Now Share Investments In This Pre-IPO, High-Growth Artificial Intelligence Company — TradingView News
The trading activity of members of Congress including former Speaker of the House Nancy Pelosi (D-Calif.) has gained increased attention from retail traders in recent years.
A recent trading disclosure shows Pelosi is now an investor in a leading private data and artificial intelligence company.
What Happened: Over the past year, Pelosi disclosed large investments in technology giants NVIDIA Corpo 
NVDA and Palo Alto Networks Inc 
PANW.
A recent filing shows Pelosi and her venture capitalist husband Paul Pelosi took a $1 million to $5 million stake in data services and artificial intelligence company Databricks.
The investment was done using the secondary markets platform from Forge Investments according to the filing shared by CongressTrading on X.
“Databricks is a San Francisco engineering and analytic software company based on AI technology,” the disclosure stated.
Pelosi represents District 11 of California in the U.S. House of Representatives. The region includes San Francisco, where Databricks is based.
Related Link: 10 Best Stock Traders In Congress In 2023 (Spoiler: Nancy Pelosi Has Reentered The Chat)
Why It’s Important: The investment from the Pelosis puts them in company with several other prominent investors in Databricks.
Among the investors in Databricks are Nvidia and Cathie Wood’s Ark Venture Fund.
The Ark Venture Fund launched in 2022 and gives investors access to private companies. As of the end of 2023, Databricks was the fourth largest holding in the fund, representing 5.7% of assets.
Databricks raised $500 million in funding in September with the company valued at $43 billion. T. Rowe Price Group Inc 
TROW led the investment round.
Other investors in the September funding round included Andreessen Horowitz, Baillie Gifford, ClearBridge Investments, Fidelity Management, Franklin Templeton, Counterpoint Global, Ontario Teachers’ Pension Plan and Capital One Financial Corp 
COF.
“Databricks and Nvidia are building transformative AI technology, and we’re excited about the business value and innovation we can bring to our customers,” Databricks CEO and co-founder Ali Ghodsi said at the time.
Nvidia CEO Jensen Huang praised the company alongside an investment by Nvidia in the round.
“Enterprise data is a goldmine for generative AI,” Huang said. “Databricks is doing incredible work with Nvidia technology to accelerate data processing and generative AI models.”
In March, Databricks reported 2023 revenue of $1.6 billion, which was up 50% year-over-year. The company’s growth rate is ahead of public software companies, according to TechCrunch.
While no IPO is planned for Databricks, the company is one of many companies that could be eyeing going public in the future.
With investors that include Pelosi, Ark Funds and Nvidia, an IPO would certainly generate plenty of attention.
Read Next: Pelosi Loves Palo Alto Networks Stock, So Do These Other Top Performing Traders In Congress
Image created using photos from Ark Invest, Shutterstock.com and Gage Skidmore on Flickr
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