Databricks is closing a new funding round that would value the cloud-data software maker at about $100 billion, more than 60% higher than its last round in December when it was valued at $62 billion. The exact size of the new round wasn’t disclosed, but management said the round is oversubscribed and that investors are lining up to back its AI-focused strategy. In December, Databricks raised $10 billion.
Databricks and Snowflake compete in the data analytics and data-management space, with both companies helping enterprises turn proprietary data into actionable insights on cloud platforms. The fresh capital will be channeled into accelerating Databricks’ artificial intelligence push—expanding its AI agents lineup and investing in a new database product—with possible additional AI acquisitions on the horizon.
CEO Ali Ghodsi said the momentum behind Databricks’ AI products has attracted strong investor interest as the company powers AI services and data workflows for some of the world’s largest businesses.
On the growth front, Databricks reported about $3.7 billion in annualized revenue as of July, a pace around 50% higher year over year. Snowflake’s stock was flat on the day, though it’s up roughly 26% in 2025. Snowflake is set to report second-quarter earnings on August 27.
Both firms are at the center of a wave of interest in AI-enabled data platforms, where the ability to train and deploy autonomous AI agents on top of proprietary datasets is seen as a key differentiator for enterprise software providers. Databricks’ latest funding round signals continued capital demand for AI infrastructure builders, even as investors weigh how quickly these platforms can scale profitability and deliver concrete product milestones.
What to watch next
– How quickly Databricks translates new funding into product milestones, particularly around its AI agents and database offerings.
– The impact of AI-related acquisitions on both Databricks’ and Snowflake’s competitive positioning.
– Market reaction to Snowflake’s upcoming earnings and how its guidance shapes sentiment for AI-driven analytics names.
Summary: Databricks’ prospective $100 billion valuation from a new funding round highlights sustained investor appetite for AI-powered data platforms. With rapid revenue growth and an aggressive AI roadmap, the company is positioned to expand its influence in enterprise AI workflows, while Snowflake remains a closely watched rival as the sector moves deeper into AI-enabled data analytics.