Databricks hits $190 billion valuation after $5 billion funding round

Data and AI platform Databricks has finalized a $5 billion financing round at a $190 billion valuation on Thursday, cementing its place among the most valuable private tech firms. The AI company’s CEO, Ali Ghodsi, has also argued that artificial general intelligence, going by an older definition, is already here.

Databricks valuation and underlying revenue

Databricks first disclosed the deal on July 16 at a $188 billion valuation, after signing a term sheet led by existing backer Coatue. CEO Ali Ghodsi told Forbes that the higher actual closing number at $190 billion reflects a larger raise and extra shares issued during the funding process.

Coatue led once again on the final round, where it was joined by Blackstone, MGX and T. Rowe Price, with Sixth Street Growth coming in as a first-time investor.

Forbes places the company’s revenue run rate above $7 billion with year-over-year growth hitting a maximum of 80%. This trajectory points to a fast revenue expansion being behind a valuation that has basically tripled since late 2024.

… Continue reading the full article at the original source below.