Databricks hits $188B valuation, extending its run as AI's favorite second act

Databricks hits $188B valuation, extending its run as AI’s favorite second act

Databricks announced a new funding round at a $188B valuation, led by Coatue. The company didn't disclose the exact amount—it said the money hasn't arrived yet and the round will close later this summer; WSJ and others reported roughly $3B. A VC told TechCrunch the deal is solid, with so many firms wanting in that Databricks had no reason to hide the new number. The raise extends an 18-month fundraising streak as the company remakes itself from a data platform into an AI player, publishing research on cost savings from open-weight coding models.

Why it matters: Databricks' new round at $188B valuation, ~$3B led by Coatue, is a significant pricing signal for the AI infra layer. Score held at 78 rather than higher because a funding round isn't industry-shaking, and the money hasn't closed yet.