Databricks secures 3 billion USD in funding, raising its valuation to 188 billion USD

AI data platform Databricks has secured a $3 billion investment led by Coatue, bringing its valuation to $188 billion. Databricks' valuation has increased by 40% from $134 billion at the end of last year. In February, Databricks' annualized revenue run rate exceeded $5.4 billion, with AI products accounting for $1.7 billion. Databricks assists enterprises in storing, analyzing data and managing AI models; the new funding enables Databricks to continue postponing its public listing.