Databricks closed a $5 billion funding round at a $190 billion valuation, up from $134 billion six months earlier, the company confirmed Thursday.
Coatue led the round, joined by Blackstone, MGX, T. Rowe Price Associates, Sixth Street Growth and roughly two dozen other investors, according to TechCrunch. Returning backers included Andreessen Horowitz, Thrive Capital, Goldman Sachs Alternatives and Temasek, according to Yahoo Finance.
Ghodsi told TechCrunch the company set out to raise $1 billion but drew far more interest once word of the round got out. "The interest level was just insane," he said. "There was $15 billion of interest."
Databricks said its overall revenue run rate topped $7 billion in the second quarter, up more than 80% year over year, with Lakebase, its database for AI agents, generating more than $100 million in run rate since its mid-2025 launch, according to Yahoo Finance. The company also disclosed it acquired ElectricSQL the same day, aimed at improving Lakebase's database performance, on undisclosed terms.
For founders raising in this market, Databricks turning down two-thirds of the demand it didn't go looking for is a data point on how much capital is chasing AI infrastructure right now, and how selective a well-positioned company can afford to be about whose money it takes.