Databricks closed its $5 billion Series L-2 round in August 2026 at a $190–202 billion post-money valuation, lifting its Nasdaq Private Market mark to $191 billion as of October 1. Annualized revenue run rate reached $7 billion with over 80% year-over-year growth, driven by AI products and data warehousing, though PitchBook analysis flags the implied 27x multiple as stretched relative to fundamentals and peer benchmarks like Snowflake. Secondary trading and any additional funding or tender offers through late October represent the key near-term catalysts that could push marks above or below prevailing thresholds ahead of the October 31 resolution. Trader consensus on Polymarket reflects real-capital bets on these dynamics amid elevated private-market volatility.