Databricks announced Tuesday that it has raised $4 billion in a funding round that values the data analytics software company at $134 billion.
The valuation is a 34% increase from the company’s $100 billion valuation announced in August. At the time, Databricks became one of the few private companies to be valued at over $100 billion, joining SpaceX, ByteDance, and OpenAI.
Databricks said it plans to use the funding to help customers build apps as the development of artificial intelligence accelerates. Databricks co-founder and CEO Ali Ghodsi said in an interview with CNBC that the company wants to be the go-to company for organizations looking to build and run AI agents that can run their jobs.
“It’s kind of like a land grab, and now the do-it-yourselfers are winning. So it’s a huge opportunity,” he says.
Despite the new capital injection, Godi said he would not rule out an initial public offering (IPO) in 2026. Anthropic and OpenAI, which build generative AI models available to Databricks clients, are both reportedly in talks to go public in 2026.
Investors are now paying attention to the financial commitment required to build data centers capable of supporting Anthropic and OpenAI.
“I think we’re going to see a lot of value from AI across the board,” Godi said. “Will the level of investment in all the data centers and energy be justified? I don’t know. I’m a little worried that we’re getting ahead of ourselves.”
The company said its fiscal third quarter revenue run rate was more than $4.8 billion, growing 55% year-over-year. This number is also up from the $4 billion revenue run rate announced earlier this year. Growth accelerated from last quarter due to a notable increase in AI revenue, Godi said.
The more robust parts of the business are also gaining momentum. He said more than 1,000 Databricks customers currently use the company’s Lakebase database software to quickly note down incoming data.
Databricks is one of a growing list of companies, along with Epic Games and Stripe, that are choosing to remain private as private markets offer more funding opportunities.
Insight Partners, Fidelity Management & Research Company, and JP Morgan Asset Management led the new Databrix round with participation from Andreessen Horowitz.
Databricks was founded in San Francisco in 2013. Ranked #3 on CNBC’s 2025 Disruptor 50 list.
—CNBC’s Jordan Novet contributed to this report.
