Databricks on August 13 closed a $5 billion funding round at a $190 billion valuation, its second $5 billion raise in six months, after a prior round valued the company at $134 billion1,4,5. The company said it has crossed $7 billion in annualized revenue run rate and grew more than 80% year-over-year in its second quarter.
The round was led by Coatue, Blackstone, MGX, T. Rowe Price, and Sixth Street Growth, with more than a half dozen additional backers, most of them returning investors3.
Co-founder and CEO Ali Ghodsi told TechCrunch that Databricks originally intended to raise $1 billion2. After a report by The Information during Databricks' June conference disclosed the fundraise, investor demand surged. "Just from this select group of investors that we looked at, there was $15 billion of interest," Ghodsi said. Rather than turn away long-term backers, the company expanded the round to $5 billion. In July, Databricks issued a press release announcing it had closed the round at a $188 billion valuation without disclosing the amount raised; the final valuation landed at $190 billion.
Ghodsi told CNBC that "demand is crazy," attributing growth to enterprise adoption of AI agents. "What's happening basically is everybody's using these agents, AI agents, and the whole world is laser focused on agents, AI," Ghodsi said on CNBC's "Squawk on the Street".
Databricks said it will deploy the capital to support enterprise AI capabilities, including its Unity AI Gateway governance tool and Genie agentic tool. Ghodsi highlighted strength in the company's Lakebase database unit, Genie business agent, and AI Gateway, which helps control model use and costs.
Lakebase, a database product for AI agents, has already surpassed a $100 million revenue run rate, Databricks said. The company's Lakehouse data warehousing tool has surpassed a $1.5 billion run rate. Databricks said it launched Lakewatch software in March.
Databricks has exceeded Snowflake in market value and ranked No. 3 on CNBC's 2026 Disruptor 50 list. The company was founded in 2013.
ANALYSIS The valuation increase from $134 billion to $190 billion in six months reflects the pace at which Databricks' revenue base is scaling, with the 80%-plus year-over-year growth rate underpinning investor willingness to pay a steep premium. The rapid ramp of Lakebase to a $100 million run rate shortly after launch signals that Databricks is converting its existing enterprise data platform footprint into agent-infrastructure revenue. Ghodsi's account of $15 billion in investor demand against a planned $1 billion raise illustrates the capital overhang chasing late-stage AI infrastructure companies that can demonstrate durable revenue growth at scale.