Databricks Secures $3B Round at $188B Valuation

Databricks is finalizing a $3 billion funding round valuing the cloud data platform company at $188 billion, led by Coatue with new and existing investors. The company plans to close the deal later this year. Proceeds will fund expansion of its Genie AI assistant suite, including tools for natural language data queries and AI agent governance, as well as acquisitions. CEO Ali Ghodsi emphasized enterprises now prioritize cost-efficient AI outcomes over raw model performance.