TechCrunch · BIG TECH
Databricks reaches $188B, reinforcing the value of open-weight AI coding workflows
Databricks on Thursday announced a new round of funding that values the company at $188 billion . The round was led by Coatue.
Databricks didn’t disclose exactly how much it raised; it said the money isn’t in its hands yet and that the round will close later this summer. (Other outlets have since reported the raise is roughly $3 billion .)
In fact, Databricks has been on a year-and-a-half fundraising tear as it successfully transitioned its image into an AI provider and not just a yesteryear SaaS sensation. Yesteryear being back in the BC times (Before ChatGPT).
Only five months ago, in February, Databricks closed a $5 billion Series L raise at a $134 billion valuation . Five months before that, in September 2025, it raised $1 billion at a $100 billion valuation . And roughly nine months before that, in December 2024, it raised what was a record-breaking round at the time of $10 billion at a $62 billion valuation.
Databricks has raised so many rounds over the years that this latest one became the subject of memes about running out of letters of the alphabet. “Turning on alerts for when we get a Series AA,” one person posted.