Databricks closed its most recent $5 billion funding round in mid-August 2026 at a $190 billion post-money valuation, reflecting an 80%+ year-over-year rise in its annualized revenue run rate to $7 billion alongside positive adjusted free cash flow. Secondary-market marks have since implied values near $217 billion as of early October, driven by sustained enterprise demand for its Lakehouse platform and AI products. With CEO statements ruling out a 2026 IPO and no new equity rounds or major data releases scheduled before October 31, near-term valuation shifts hinge primarily on secondary trading liquidity and broader AI-sector sentiment rather than fresh primary capital raises.