Databricks Valued at $100 Billion as It Prepares for Series K Funding

Databricks announced that it has signed a term sheet for its Series K funding round, valuing the company at more than $100 billion. The round, which is expected to close soon, is backed by existing investors and marks one of the largest late-stage financings in the AI sector this year.

The company said the new capital will accelerate its AI strategy. This includes expanding Agent Bricks, a platform for building enterprise-grade AI agents, further investment in its new operational database Lakebase, and strengthening global growth. Lakebase, announced in June, is built on open-source Postgres and optimised for AI-driven applications, while Agent Bricks is designed to deliver production-ready AI agents fine-tuned on enterprise data.

Ali Ghodsi, co-founder and CEO of Databricks, said the round reflects growing investor confidence in the company’s vision. “Every company can securely turn its enterprise data into AI apps and agents to grow revenue faster, operate more efficiently, and make smarter decisions with less risk,” he said, adding that Databricks is benefiting from “an unprecedented global demand for AI apps and agents”.

The funding also positions Databricks to pursue future AI acquisitions and deepen research efforts. In recent months, the company has expanded or launched partnerships with Microsoft, Google Cloud, Anthropic, SAP and Palantir, signalling its growing influence in the data and AI ecosystem.

Databricks also said its Data Intelligence Platform is used by more than 15,000 customers worldwide, enabling organisations to integrate analytics and AI more effectively. 

Built on an open source foundation, the platform supports businesses in innovating faster, reducing costs and managing risk while turning their enterprise data into scalable AI applications. In a similar scale, OpenAI raised $8.3 billion at a $300 billion valuation earlier this year, as a part of its plan to secure $40 billion in funds.