Databricks on Thursday announced a new strategic funding round that values the company at $188 billion — a staggering $54 billion increase from its $134 billion valuation just five months ago.
The round is led by Coatue, with other outlets reporting the raise is roughly $3 billion. The company said the money isn't in its hands yet and that the round will close later this summer.
This continues Databricks' extraordinary fundraising tear. In February 2026, it closed a $5 billion Series L at a $134 billion valuation. In September 2025, it raised $1 billion at $100 billion. And in December 2024, it raised $10 billion at a $62 billion valuation — a round that was record-breaking at the time.
Originally founded in 2013 as a big-data analytics company, Databricks has successfully reinvented itself as an AI provider. The company now offers products like Lakebase (a database built for AI agents), Unity (an AI gateway), and Omnigent (a "meta-harness" that manages multiple agents).
CEO Ali Ghodsi recently shared internal benchmarking showing that open-weight models — particularly Z.ai's GLM 5.2 — now handle even the most difficult coding tasks at lower cost than proprietary models from Anthropic and OpenAI.
The AI effect has become so powerful that even non-tech companies are leaning into the narrative — sandwich chain Jersey Mike's mentioned AI 22 times in its S-1 filing.
