Databricks Eyes $130B Valuation in Latest Funding Round, Challenging Snowflake and Oracle
Databricks, the AI and data software firm competing with Snowflake and Oracle, is reportedly seeking a $130 billion valuation in its latest funding round. This marks a 30% increase from its $100 billion valuation in September, when it raised $1 billion. The new valuation WOULD position Databricks among the most valuable private tech companies, surpassing many publicly traded peers.
The company's rapid growth underscores relentless investor appetite for enterprise AI, despite murmurs of an overinflated sector. Databricks hit a $4 billion annual revenue run rate in Q2, growing over 50% year-over-year. Its platform enables organizations to harness large-scale data for AI applications, directly challenging incumbents in cloud and data analytics.
