Databricks closed a $5 billion funding round on Thursday at a $190 billion valuation, led by Coatue and backed by Blackstone, MGX, T. Rowe Price, Sixth Street Growth, and roughly two dozen other VCs. The San Francisco data and AI platform disclosed it crossed $7 billion in annualized run-rate revenue with greater than 80% year-over-year growth in Q2 2026.
The valuation jump from $134 billion (December 2025) to $190 billion reflects investor appetite for the company's enterprise AI offerings despite the late-stage private raise. CEO Ali Ghodsi originally planned to raise just $1 billion but saw $15 billion in interest surge after a report circulated during the company's June conference. Ghodsi said the capital will fund continued product innovation across Lakebase (its AI-agent database), Genie (its AI coworker), and data platforms.
Databricks is benefiting from peak enterprise urgency around AI cost control. CFOs have moved from "tokenmaxxing" (unlimited AI consumption) to managing cost per unit of intelligence. Ghodsi underscored that the company is cash-flow positive with its core cloud data warehouse contributing $1.5 billion of the $7 billion run rate and growing 100% year-over-year.
For architects: a $190B private valuation in Q2 2026, combined with >80% growth and profitability, signals investor confidence in data-layer infrastructure as the bottleneck for enterprise AI. Databricks now competes directly with Snowflake (public) on valuation narrative while dwarfing its peers on growth rate. The company has raised $25 billion cumulatively over its lifetime.