Jun. 10 at 8:43 PM
DDN, a provider of data hardware and software solutions focused on AI infrastructure, plans to raise additional funding before the end of the year, according to CEO Alex Bouzari. Speaking at Bloomberg's Generative AI Forum in New York, Bouzari said the company is seeking strategic investors who can contribute expertise and long-term value rather than simply provide capital.
Founded in 1998 and profitable as a private company for more than a decade, DDN has been positioning itself for its next phase of growth. Earlier this year, the company appointed a chief financial officer and chief operating officer, moves widely viewed as preparations for a potential initial public offering. Bouzari indicated that the goal of the upcoming fundraising round is to bring in sophisticated partners capable of helping the company better communicate and expand the value it delivers to customers.
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