Databricks secures funding round at $188 billion valuation (updated)

Snowflake

17/07/2026 05:06

 (Adds response from Coatue in bullet number five)
    July 16 (Reuters) - Databricks said on Thursday it has
signed a term sheet for a strategic funding round that
values the data analytics software firm at $188 billion. 
    
    Here are a few details:
    * The round, which Databricks expects to close later this
summer, is being led by existing investor Coatue and will
include both new and existing investors.
    * Databricks, one of the world's most valuable privately
held companies, earlier this year completed a fundraising of
about $5 billion at a $134 billion valuation.
    * Databricks offers a platform designed to help users
ingest, analyze and build AI applications using complex data
from various sources. It competes with Snowflake  SNOW.N , and
analysts widely see it as a public-listing candidate along with
marquee names such as OpenAI and Anthropic.
    * Earlier on Thursday, the Wall Street Journal reported that
investment firm Coatue Management was leading a $3 billion
investment in Databricks at a $188 billion valuation, citing
people familiar with the matter.
    * Coatue declined to comment.
    * This is the latest sign of investors placing large bets on
companies poised to benefit from the wider adoption of
artificial intelligence. Technology giants are on track to
invest billions of dollars, while the two largest AI firms,
OpenAI and Anthropic, have filed their IPO paperwork.

    

 (Reporting by Fabiola Arámburo in Mexico City and Devika Nair
in Bengaluru; Editing by Sherry Jacob-Phillips)
 ((Fabiola.Solano@thomsonreuters.com))