Databricks is reported to be raising a strategic funding round that values the company at $188 billion. Multiple outlets, citing reporting from The Wall Street Journal and/or Databricks communications, say the round is led by Coatue and involves existing investors. The Wall Street Journal reports the valuation represents roughly a 40% increase, reflecting rising demand tied to the AI boom and continued interest in Databricks’ data and analytics platform.
PYMNTS reports Databricks signed a term sheet for the round and expects it to close later this summer, pointing to an announcement dated July 16. Other coverage echoes that timing and valuation. Deccan Chronicle says the new capital is intended to support product and AI initiatives, including references to Unity AI Gateway, Genie, and Lakebase.
Separately, outlets note the valuation is above figures previously discussed in negotiations, with The Next Web reporting Databricks’ earlier reported target range of up to $175 billion. Overall, the sources align on the key points: a Coatue-led round, an $188 billion valuation, and a deal expected to close later this summer, with specifics varying by outlet.
