PANews, August 14: According to Forbes, AI data infrastructure company Databricks has announced the completion of a $5 billion strategic funding round, led by Coatue, with participation from Blackstone, MGX, and T. Rowe Price. Sixth Street Growth joined as a new investor. The company’s post-money valuation has reached $190 billion, up from its previously disclosed valuation of $18.8 billion. The funds will be used to advance its AI infrastructure initiatives, product development, and potential acquisitions. Databricks co-founder and CEO Ali Ghodsi stated that the company’s current annualized revenue run rate has exceeded $7 billion, representing more than an 80% year-over-year increase.
AI data infrastructure firm Databricks completes $5 billion strategic funding round
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Summary
AI data infrastructure firm Databricks has closed a $5 billion project funding round led by Coatue, with Blackstone, MGX, T. Rowe Price, and Sixth Street Growth also participating. The new capital values the company at $190 billion, up slightly from $188 billion. The funds will be directed toward AI and crypto initiatives, product development, and potential acquisitions. CEO Ali Ghodsi said the company’s annualized revenue run rate has now exceeded $7 billion, representing over an 80% year-over-year increase.
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