Databricks Raises $5 Billion at $190 Billion Valuation as AI Boom Continues

Databricks has raised $5 billion in new funding at a $190 billion valuation, underscoring continued investor enthusiasm for artificial-intelligence companies.

Databricks has raised $5 billion in new funding, lifting the AI and data software company's valuation to $190 billion. [Photo: Databricks X]

The financing was led by existing investors including Coatue, Blackstone, MGX and accounts advised by T. Rowe Price, with Sixth Street Growth also participating. 

The San Francisco-based data and AI software company said its annualized revenue run rate had surpassed $7 billion, with second-quarter revenue growing more than 80% year over year.

Databricks said it would use the new capital to support investments in products including Lakebase, its Genie AI assistant and Unity AI Gateway. 

Databricks' latest valuation represents a sharp increase from the $188 billion valuation reported after a July financing announcement. 

The financing comes as investors continue to pour money into AI infrastructure and software companies, with Databricks increasingly positioning itself as a major enterprise AI platform.