Databricks raises $10bn at $190bn valuation

Databricks Inc. has raised $10 billion in a funding round that values the company at $190 billion, according to a filing and people familiar with the matter.

The round, led by existing investors including Fidelity Investments and T. Rowe Price, underscores growing investor confidence in Databricks' artificial intelligence and data analytics platform. The company, which provides cloud-based data processing and machine learning tools, has seen its valuation surge amid rising demand for AI-driven enterprise solutions.

Databricks did not immediately respond to requests for comment. The funding round comes as the company expands its product offerings and geographic footprint, including recent expansions into Europe and Asia.

The valuation places Databricks among the most valuable private technology companies globally, trailing only a handful of peers such as SpaceX and Stripe. Its latest funding round follows a $1.6 billion raise in 2021, which valued the company at $38 billion at the time.

Investors in the round include sovereign wealth funds, mutual funds, and private equity groups, reflecting broad-based interest in the company's growth trajectory. The capital infusion is expected to accelerate Databricks' research and development efforts, particularly in generative AI and large language models.

The company's revenue growth has outpaced many of its peers in the data infrastructure space, driven by its subscription-based model and expanding customer base. Databricks serves over 10,000 organizations worldwide, including major corporations in financial services, healthcare, and retail.

The funding round highlights the continued appetite for high-growth technology companies despite broader market volatility. It also underscores the strategic importance of data and AI infrastructure in enterprise digital transformation strategies.