- Intends to use new funding to accelerate its AI strategy, expand its product suite, launch a new category of operational databases, and pursue further AI-related acquisitions and research.
Data analytics and artificial intelligence leader Databricks is in discussions to raise fresh capital at a valuation reportedly exceeding $130 billion, according to a report by The Information, citing sources familiar with the talks.
This would represent a 30 per cent higher than its last financing round two months ago at a $100 billion valuation.
The company, which declined to comment on the funding discussions, has not yet signed a formal term sheet with any investors, according to the report.
Surging demand
Founded in 2013, Databricks provides platforms for data integration, analysis, and AI application building, serving approximately 15,000 customers globally—including major firms such as Block, Shell, and Rivian. Databricks is widely regarded as an IPO candidate and has attracted significant investor interest in recent quarters.
In September, the San Francisco-based firm revealed it was on track to reach $4 billion in annualised revenue, fueled by surging demand for its AI-driven offerings. Databricks intends to use new funding to accelerate its AI strategy, expand its product suite, launch a new category of operational databases, and pursue further AI-related acquisitions and research.
The reported fundraising talks highlight Databricks’ continued momentum as it seeks to consolidate its role as a dominant force in the global AI and data analytics industry.