Databricks just added $5 billion to its balance sheet without going public.
The data and AI company closed a $5 billion funding round led by Coatue, pushing its valuation to $190 billion. That's a 42% jump from where it stood six months ago. Databricks says its revenue run-rate has passed $7 billion, growing more than 80% year over year. The round lands days after CEO Ali Ghodsi said 2026 is a bad year to take the company public.
Private capital keeps flowing to AI-adjacent infrastructure companies at valuations that would make most public-market investors blink. Databricks can raise billions without the scrutiny, reporting requirements, or stock-price volatility that come with an IPO - and as long as growth stays above 80%, backers seem happy to keep writing checks instead of pushing for an exit.
A 42% valuation bump in six months is the kind of number that only makes sense in a market still betting the AI buildout has years left to run.