Databricks hits $188B valuation, extending its run as AI’s favorite second act
Databricks on Thursday announced a new round of funding that values the company at $188 billion. The round was led by Coatue.
Databricks didn’t disclose exactly how much it raised; it said the money isn’t in its hands yet and that the round will close later in this summer. (Other outlets have since reported the raise is roughly $3 billion.) While it’s unusual for a company to announce before it gets the money, a VC tells TechCrunch that the deal is solid, with so many firms wanting in that the company had no reason to keep its shiny new valuation a secret.
In fact, Databricks has been on a year-and-a-half fundraising tear as it successfully transitioned its image into an AI provider and not just a yesteryear SaaS sensation. Yesteryear being back in the BC times (Before ChatGPT).
Only five months ago, in February, Databricks closed a $5...
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