OceanBase plans to raise 2 billion to 3 billion yuan to enhance its AI database layout

According to Bloomberg, OceanBase, a database company supported by Jack Ma, is in discussions with investors for Series A financing, planning to raise approximately 2 billion to 3 billion yuan (about 295 million to 443 million USD) to promote the company's independent operations and accelerate the development of its AI database business.

OceanBase was originally developed in 2010 to meet the internal database needs of Ant Group and has supported Ant Group in achieving a transaction processing capacity of 500,000 transactions per second during major promotional events like "Double 11." Sources say that OceanBase is currently strengthening its AI analytical capabilities, enhancing its ability to process not only structured data but also semi-structured and unstructured data such as videos, aiming to become a key infrastructure connecting enterprise data with AI models and AI Agents. To facilitate a future spin-off listing, OceanBase has established an independent board of directors in 2024 and set up an employee stock incentive plan. Additionally, sources reveal that Ant Digital Technologies, the enterprise services division of Ant Group, is also exploring independent financing options.