Databricks closed its most recent strategic round in August 2026 at a $190 billion post-money valuation on $5 billion raised, coinciding with a reported $7 billion annualized revenue run rate growing more than 80% year-over-year and positive adjusted cash flow. Secondary-market marks have since edged modestly higher, with indications near $192–201 billion as of early October 2026 amid sustained institutional demand for AI infrastructure exposure. No new primary round or material corporate event has been announced that would reset the valuation before the October 31 resolution date. Trader sentiment therefore hinges on whether secondary trading activity or incremental revenue updates can push marks above the contract threshold in the remaining weeks, against a backdrop of elevated multiples relative to public comparables such as Snowflake.