Databricks closed a $5 billion strategic funding round in August 2026 at a $190 billion post-money valuation, reflecting strong investor demand for its data and AI platform amid rapid revenue expansion to a $7 billion annualized run rate with over 80% year-over-year growth. Secondary market indications have since edged higher to around $202–217 billion, supported by AI product momentum in Lakebase and Genie alongside a net retention rate exceeding 140%. However, PitchBook analysis highlights valuation multiples near 27x run-rate as stretched relative to fundamentals, estimating an operating value closer to $69 billion and noting limited near-term catalysts before the October 31 resolution window. Private company valuations remain sensitive to any additional equity rounds or large secondary transactions in the interim.