Databricks nears $5bn equity raise at $134bn valuation

Databricks announced that it is completing more than $7bn of investment, including about $5bn of equity financing at a $134bn valuation and around $2bn of additional debt capacity.

The San Francisco-based data and AI firm also reported achieving a revenue run-rate exceeding $5.4bn in its fourth quarter, marking over 65% growth compared to the previous year.

The newly acquired capital will be allocated towards Databricks’ initiatives such as Lakebase, a serverless Postgres service tailored for AI agent workloads, and Genie, a conversational assistant designed to enable employees to query company data via chat functions.

The funds will also support AI research, strategic acquisitions, and liquidity for employees.

Databricks co-founder and CEO Ali Ghodsi said: “We’re seeing overwhelming investor interest in our next chapter as we go after two new markets,

“With this new capital, we’ll double down on Lakebase so developers can create operational databases built for AI agents. At the same time, we’re investing in Genie to let every employee chat with their data, driving accurate and actionable insights.”

The latest financing round saw participation from both new and existing investors. Notably, JPMorgan Chase expanded its involvement through its Security and Resiliency Initiative’s newly established Strategic Investment Group.

Other participants included Glade Brook Capital, Growth Equity at Goldman Sachs Alternatives, Morgan Stanley, Microsoft, funds affiliated with Neuberger, Qatar Investment Authority, UBS-affiliated funds, among others.

Databricks highlighted that the credit facilities were led by JPMorgan Chase Bank, in collaboration with Barclays, Citi, Goldman Sachs, and Morgan Stanley, alongside various financial institutions and alternative asset managers.

The company also said that it achieved positive free cash flow over the past year. Its AI product line alone crossed a $1.4bn revenue run-rate with a net retention rate exceeding 140%.

Databricks claims to have more than 800 customers generating over $1m annually and over 70 customers generating upwards of $10m annually. The firm plans to further develop Lakebase as a serverless Postgres database to assist clients in building data and AI applications on an integrated platform.

Additionally, investment in Genie is set to expand its natural-language capabilities to enhance data and AI access across businesses.

JPMorganChase’s Security and Resiliency Initiative Strategic Investment Group head Todd Combs said: “Databricks is a generational company that has become a backbone for enterprise data and AI, helping organisations across critical sectors seize opportunities and overcome challenges.

“This initial investment reflects the strength of Databricks’ secure platform and continues to support their innovative, production‑scale applications that serve customers around the world.”

Last month, Toyota Motor adopted the Databricks Data Intelligence Platform for its vista project, the Japanese automaker’s unified hub for data and AI.

Databricks explained that vista merges Toyota’s diverse data sources, facilitating more efficient development and deployment of AI and machine learning models. The company clarified that Toyota launched its Data Library Project in 2021 to eliminate information silos but faced challenges due to infrastructure constraints.

By selecting Databricks as the foundation for vista, Toyota aimed to unify corporate data onto a single platform with secure governance and quality controls.

In December 2025, Databricks disclosed a Series L investment exceeding $4bn, valuing the company at $134bn. This funding was earmarked for assisting customers in developing AI apps and agents using proprietary data frameworks such as Lakebase.

“Databricks nears $5bn equity raise at $134bn valuation” was originally created and published by Verdict, a GlobalData owned brand.

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