Databricks hits $188B valuation, extending its run as AI’s favorite second act

Databricks secured a new funding round valuing the company at $188 billion, led by Coatue, with reports indicating a $3 billion raise expected to close this summer. The company has rapidly increased its valuation over the past year, from $100 billion in September 2025 to $134 billion in February 2026, positioning itself as a key AI provider. Databricks leveraged its enterprise data foundation to expand into AI products, emphasizing cost-effective open-weight models like Z.ai’s GLM 5.2 for coding tasks.