Databricks has closed a $5 billion funding round at a $190 billion valuation, representing a 42% increase from the $134 billion valuation the company held just six months ago. The San Francisco-based data and AI platform had signaled last month that it was raising at a $188 billion valuation with Coatue Management leading the effort. The final round closed above that preliminary figure.

Coatue, Blackstone, MGX, T. Rowe Price, and Sixth Street Growth led the latest round, which marks Databricks' second $5 billion raise in 2026. In February, the company secured the same amount alongside $2 billion in new debt capacity. Taken together, the company has accessed $12 billion in new capital through equity and debt this year alone — a figure that underscores the scale of private funding still flowing into enterprise AI infrastructure even as public market investors debate the sector's return timelines.

Databricks announced the milestones on X (Twitter):

Today, we're pleased to share strong momentum across our business, including crossing $7B in revenue run-rate and achieving >80% year-over-year growth in Q2. We also shared:
• >$100M revenue run-rate for Lakebase
• >$1.5B revenue run-rate for Lakehouse
• Closed $5B in new… pic.twitter.com/mVfdmR5Wlc

— Databricks (@databricks) August 13, 2026

CEO Ali Ghodsi described current demand as "crazy," attributing the surge to enterprise appetite for AI agents. "Everybody's using these agents, AI agents, and the whole world is laser focused on agents," he said in an interview with CNBC on Thursday. That demand pattern aligns with what other major enterprise software vendors have reported in recent quarters, as companies move from pilot-stage AI projects toward production deployments that require substantial data processing and governance infrastructure.

Revenue and Product Milestones

The company crossed $7 billion in annual revenue run rate, with growth exceeding 80% year-over-year in the second quarter. Databricks said the newly raised capital will be directed toward enterprise AI capabilities, including its Unity AI Gateway governance tool and its Genie agentic product.

The company's Lakebase database product, launched recently, has already surpassed a $100 million revenue run rate, positioning Databricks in direct competition with Oracle and SAP. Its more established Lakehouse data warehousing tool has exceeded a $1.5 billion run rate. The rapid expansion from analytics and warehousing into operational databases and cybersecurity reflects a broader industry trend: data platforms are increasingly pursuing full-stack enterprise infrastructure plays, blurring the lines between categories that were once distinct.

Ghodsi highlighted Lakebase, the Genie coworker agent, and the AI Gateway tool as areas of particular strength during the quarter.

In March, Databricks expanded into cybersecurity with the launch of its Lakewatch software, further broadening its product portfolio. The company ranked No. 3 on CNBC's 2026 Disruptor 50 list and has now surpassed publicly traded competitor Snowflake in overall market value.

IPO Plans Remain on Hold

Databricks continues to operate as a private company despite long being regarded as a leading IPO candidate. The company is part of a growing group of late-stage startups choosing to remain private while private market funding remains abundant. For Databricks specifically, the ability to raise $10 billion in equity across two rounds in a single year reduces the urgency of a public listing, since the capital needs that typically push companies toward IPOs are being met in the private market.

Frontier AI companies Anthropic and OpenAI have both confidentially filed to go public, with potential debuts expected as early as this year. Databricks, however, has not announced any IPO plans. With a $190 billion valuation and a $7 billion revenue run rate, it now sits well above many publicly traded technology peers.

The final valuation of $190 billion was confirmed Thursday in a company statement.