Databricks raises $5 billion at $190 billion valuation

Databricks, an AI and big data company, closed a $5 billion funding round at a $190 billion valuation. The round was led by Coatue and included participants like Blackstone, MGX, T. Rowe Price, and Sixth Street Growth. CEO Ali Ghodsi revealed that investor interest far exceeded expectations, with $15 billion in potential demand, forcing the company to increase the round size beyond the initially planned $1 billion. The timing was impacted by The Information's reporting on the fundraising push, which triggered numerous investor calls while the company was focused on its internal conference.