Databricks signs term sheet for funding at about $188 billion valuation

Databricks has signed a term sheet for a strategic funding round valuing the data and AI company at about $188 billion, Crowdfund Insider reported. Industry reports put the raise near $3 billion, led by Coatue Management with new and existing backers, with closing expected later in the summer of 2026. The valuation would be roughly 40 percent above the $134 billion mark from Databricks' prior Series L earlier in 2026, Crowdfund Insider and Blockonomi reported. Blockonomi said the company had initially sought about $175 billion and that the prior Series L was worth roughly $5 billion. Yahoo Finance, citing GuruFocus, likewise described a Coatue-led round aimed at $188 billion as a second 2026 financing for acquisitions and AI platform expansion. Blockonomi reported that AI-focused products generated a $1.7 billion annualized revenue run rate as of June, up from $1 billion in September, and that CEO Ali Ghodsi framed the raise around three priorities: Unity AI Gateway for multi-AI governance and cost control, Genie as AI coworkers grounded in business data, and Lakebase, a serverless Postgres database aimed at AI agents. Crowdfund Insider said proceeds are slated to accelerate those products on Databricks' Lakehouse stack, support hiring and acquisitions such as cybersecurity firm Panther Labs, and enable employee liquidity via secondaries. The outlet said Databricks serves more than 20,000 organizations, including over 60 percent of the Fortune 500. Yahoo Finance listed Snowflake, Google BigQuery, and Microsoft Fabric among competitors.