Databricks Signs Term Sheet for Coatue-Led Round at $188 Billion Valuation

Databricks has signed a term sheet for a strategic funding round led by Coatue Management that values the data and AI company at $188 billion, a roughly 40% jump from its previous valuation just seven months earlier. The San Francisco-based firm said the round, which involves both new and existing investors, is expected to close later this summer and marks its second capital raise of 2026.