Databricks gets $3 billion, valued at $188 billion

Databricks, a major enterprise data and artificial intelligence company, has secured a new funding round valuing it at $188 billion, marking a significant step in its aggressive expansion within the AI sector. The company announced on Thursday, July 16, that it has signed a term sheet for the strategic investment, which is reportedly worth $3 billion and is being led by the investment firm Coatue with participation from other new and existing backers. The deal is expected to close later this summer.

This latest valuation represents a 40% increase from the company's $134 billion valuation established just five months ago in February 2026. Notably, the company exceeded its own initial target valuation of $175 billion for this round. The funding continues a pattern of rapid capital raises for the San Francisco-based firm, which closed a $5 billion Series L round in February and a $1 billion round in September 2025.

Company leadership stated the new capital will be used to accelerate development of three core AI products: Unity AI Gateway, a governance tool for managing AI model usage and costs; Genie, a suite of AI assistants that interact with business data; and Lakebase, a...