Databricks closes funding round at valuation above $100B

Databricks is closing a fresh funding round that would push its valuation above $100 billion, a sign of continued investor enthusiasm for AI-enabled data platforms even as the company remains private. The deal, described as oversubscribed and nearing completion, follows a year in which Databricks secured a $10 billion funding round at a $62 billion valuation and has since rolled out major AI initiatives, including its Lakebase database and an expanding suite of autonomous AI tools dubbed Agent Bricks. The company says the new capital will accelerate its AI strategy, expand globally, and support acquisitions in the AI space, while also enabling continued investment in its serverless data-management stack. At the same time, Databricks’ would-be market rival Snowflake is pressing ahead with its own AI-first roadmap, underscored by a broad partner ecosystem and ongoing investments in governance, cost controls, and observability under its AI Data Cloud umbrella.

Databricks has built a large, globally distributed business around data analytics and AI, with more than 15,000 customers including major enterprises. The company has highlighted partnerships with cloud and technology...