3 days ago
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Reuters
Thu, August 13, 2026 astatine 9:21 AM CDT 1 min read
Aug 13 (Reuters) - Databricks said connected Thursday it had closed a $5 cardinal strategical backing circular at a $190 cardinal valuation arsenic the information and AI bundle institution looks to grow investments successful products for AI agents.
The circular was led by Coatue with participation from Blackstone, MGX, accounts advised by T. Rowe Price Associates and T. Rowe Price Investment Management and caller investor Sixth Street Growth.
The company besides said it had surpassed a $7 cardinal annualized gross run-rate, delivering much than 80% year-over-year maturation successful the 2nd quarter.
Databricks, which helps enterprises analyse data and physique AI applications, competes with Snowflake and is wide regarded by analysts arsenic 1 of the most salient backstage companies apt to prosecute an eventual archetypal nationalist offering, alongside OpenAI and Anthropic.
(Reporting by Rashika Singh successful Bengaluru; Editing by Vijay Kishore)
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