Databricks valued at $188B in new funding round led by Coatue
Original: Databricks hits $188B valuation, extending its run as AI’s favorite second act
Why This Matters
Databricks' rapid valuation growth signals sustained enterprise demand for AI data infrastructure platforms.
Databricks announced a new funding round on July 17, 2026, led by Coatue, valuing the company at $188 billion. The raise is reported to be approximately $3 billion, though the round has not yet closed. This marks the company's fourth major raise in roughly 18 months.
Databricks announced on July 17, 2026 that it is raising a new funding round led by Coatue at a $188 billion valuation. The exact amount has not been officially disclosed, as the round has not yet closed, but other outlets report the figure at approximately $3 billion. The announcement is notable for coming before the capital was received — a move sources told TechCrunch reflects strong investor demand.
The raise continues a rapid valuation climb: Databricks was valued at $62B in December 2024, $100B in September 2025, and $134B in February 2026 after a $5B Series L round. The company has now raised so many rounds that it became the subject of online memes about running out of alphabet letters for series designations.
Founded in 2013, Databricks originally built its business on cloud-based big data analytics. It has since repositioned itself as an AI infrastructure provider, launching products such as Lakebase (a database for AI agents), Unity (an AI gateway), and Omnigent, a multi-agent management tool. The company has also become a prominent advocate for open-weight AI models, particularly Z.ai's GLM 5.2, which CEO Ali Ghodsi highlighted in a recent blog post as outperforming proprietary models from Anthropic and OpenAI on coding tasks at lower cost.