Databricks Raises Another $3 Billion, Valuation Hits $188 Billion

According to Defiance Beating monitoring, the AI data platform Databricks is set to receive a $3 billion investment led by Coatue, bringing its valuation to $188 billion.

Comparing to the $134 billion valuation at the end of last year, Databricks' valuation has increased by 40%. The company's February annualized revenue run rate has exceeded $5.4 billion, with its AI product reaching $1.7 billion.

Databricks primarily assists enterprises in storing, analyzing data, and managing AI models. The new financing will also allow it to further delay its IPO.