Databricks Raises $5 Billion at $190 Billion Valuation

Founded in 2013, Databricks built its business around the lakehouse model, combining cloud data storage, analytics and artificial intelligence workloads on one platform. It has since expanded into enterprise AI agents, seeking to help companies deploy generative AI against proprietary data while maintaining governance and security. That position has made Databricks a closely watched private-market proxy for corporate AI spending.

Databricks said on Aug. 13, 2026, it completed a $5 billion financing that valued the company at $190 billion, up from $134 billion after a February round. The company initially sought $1 billion, but investors offered as much as $15 billion before Databricks settled on $5 billion. Its annualized revenue run rate has surpassed $7 billion, with second-quarter growth exceeding 80% from a year earlier.