Databricks Valuation (2026): $134B Confirmed, $175B IPO Chatter

Databricks is mentioned in 66 of the 1,150+ expert conversations we've analyzed — a top-tier data-and-AI platform whose valuation is one of the most-watched private-market marks heading into 2026.

Mention counts from Teahose's analysis of 1,150+ expert podcast, newsletter & research summaries, June 2026.

As of June 2026, Databricks' confirmed valuation is $134 billion — its Series L, announced December 2025 and completed February 2026 (company, CNBC). It is the largest pure software company left in the private market, and probably not for long: the IPO question is "when," with reports — unconfirmed — of a target near $175B.

Update (June 9, 2026): That "chatter" now has a number. The Information reports Databricks is in active talks to raise a new round at $165–175B (PYMNTS) — a ~25–30% step-up from the confirmed $134B in roughly six months. The round had not closed as of mid-June, so it's active-talks reporting, not a printed mark.

Key takeaways

• Confirmed: $134B (Series L: >$4B announced, completed at ~$5B equity + ~$2B debt; Insight, Fidelity, J.P. Morgan). ~$20B raised lifetime.
• Revenue: $5.4B run-rate, +65% YoY and accelerating (from +55% two months prior); AI products >$1.4B of it; NRR >140%; FCF-positive trailing twelve months.
• IPO: no S-1 as of June 2026; H2 2026 filing widely expected; $175B is chatter, not a print.
• The multiple: ~25x run-rate — between Anthropic's ~21x and the agent-startup stratosphere.
• Update (June 9, 2026): reportedly in talks to raise at $165–175B (The Information) — not yet closed, but a ~25–30% step-up from $134B in ~6 months if it prints.

Each bar counts how many of Teahose's 1,150+ expert summaries mention it (word-boundary match across our podcast, newsletter, and paper corpus, June 2026).

Track the field: find the companies most similar to Anthropic and get their latest funding and product signals by email — Teahose Lookalikes.

Valuation History

Sources: Series L PR · Series J · history. Note the shape: roughly flat through 2021–2023 ($38B → $43B — the ZIRP hangover), then 3x in two years once AI demand hit the lakehouse.

What $134B Is Pricing

Databricks sells the layer AI actually runs on inside enterprises — data plus ML platform — and the 2025–26 numbers say the position converted: growth accelerating at $5B+ scale (rare), AI products at a $1.4B run-rate, and 140%+ NRR meaning the installed base alone compounds 40% a year. The strategic claim in the IPO narrative writes itself: every enterprise AI initiative needs governed data, and the competitive field — Snowflake, Microsoft Fabric, the hyperscaler stacks — validates the budget line while Databricks outgrows it.

What the IPO will actually test is the multiple. ~25x run-rate is defensible at 65% growth with positive FCF; the reported $175B ask (~32x) needs the acceleration to hold through the roadshow. Snowflake's own re-acceleration (+34% in its April 2026 quarter) cuts both ways — it proves the category's demand and arms the comp table the bankers will price against.

Latest Databricks Signals, Live

What to Watch Next

1. The S-1. A confidential filing (the Anthropic route) could surface any week; the prospectus turns run-rate claims into audited numbers.
2. The growth print. 65%-and-accelerating is the entire premium over the $134B mark; one decelerating quarter reprices the IPO chatter.
3. Consolidation around it. IBM bought Confluent ($11.6B), Fivetran merged with dbt — the data stack is consolidating into platforms, and Databricks is both the pattern's cause and its biggest beneficiary.

Hit Watch on Databricks' company profile for new signals by email. Related: Databricks competitors · Palantir competitors (the adjacent layer) · AI unicorns ranked.

Bottom line: Databricks' confirmed 2026 valuation is $134B from its Series L; the $175B figure is unconfirmed IPO chatter, and with a $5.4B run-rate growing 65% plus positive free cash flow, the only real open question is when the S-1 lands, not whether the company can list.

Editorial figures as of June 11, 2026. The signal feed above updates continuously.

Frequently Asked Questions

Is Databricks raising a new round at a $165 billion valuation?

Reportedly, yes. On June 9, 2026, The Information said Databricks is in talks to raise a new round at $165–175 billion — up from the $134 billion confirmed at its February 2026 Series L. As of mid-June the round had not closed, so treat the figure as active-talks reporting, not a printed valuation. If it prices near the top of that range it would be a roughly 25–30% step-up in about six months, on the back of a $5.4B run-rate growing 65%.

What is Databricks worth in 2026?

$134 billion — confirmed by the company at its Series L, announced December 2025 and completed in February 2026 at roughly $5B of equity plus ~$2B of debt capacity (Insight Partners, Fidelity, and J.P. Morgan led). Reports of an IPO target near $175B are press speculation, not a company number. Total raised: ~$20B.

When is the Databricks IPO?

No S-1 had been filed as of June 2026 — not even a confidential one announced. Analysts widely expect a second-half-2026 filing, and CEO Ali Ghodsi has said he "wouldn't rule out" 2026. The fundamentals are listing-ready: $5.4B run-rate, growth accelerating (55% → 65%), and positive free cash flow over the trailing twelve months — the rare AI-pipeline IPO candidate that makes money.

What is Databricks' revenue?

A $5.4 billion annualized run-rate as of its fiscal Q4 (ended ~January 31, 2026), growing more than 65% year-over-year — an acceleration from 55% just two months earlier, driven by AI products, which alone passed a $1.4B run-rate. Depth metrics: 800+ customers above $1M ARR, 70+ above $10M, and net revenue retention over 140%. At $134B, the company trades at ~25x run-rate.

Has Databricks passed Snowflake?

On current run-rate, yes — Databricks' $5.4B annualized exceeds Snowflake's ~$4.5B FY26 product revenue, a crossover that seemed unlikely three years ago. The fair-comparison caveat: those are different metrics (run-rate vs fiscal-year revenue), and Snowflake is re-accelerating too (Q1 FY27 product revenue +34%, its best sequential dollar growth ever). The honest summary: Databricks is now the larger, faster-growing company; Snowflake is the profitable public one fighting back effectively.

How much has Databricks raised in total?

Roughly $20 billion across its entire funding history, from the $400M Series F in October 2019 (a16z, $6.2B valuation) through the Series L completed in February 2026 (~$5B equity plus ~$2B of debt capacity at a $134B valuation). The pace tells the story: the company was roughly flat at $38B–$43B through 2021–2023, then tripled to $134B in two years once enterprise AI demand hit its data-and-ML platform.

Is Databricks profitable or burning cash?

Databricks has been free-cash-flow positive over its trailing twelve months as of fiscal Q4 (ended around January 31, 2026) — unusual for an AI-pipeline company growing 65% a year. That FCF profile is the core of the IPO bull case: it is the rare listing candidate at this scale that both grows fast and generates cash, which is why analysts treat a second-half-2026 filing as listing-ready rather than aspirational.

Why is Databricks valued higher than many public AI companies?

Three things compound into the $134B mark: a $5.4B revenue run-rate growing 65% and accelerating (from 55% two months earlier), AI products already past a $1.4B run-rate, and net revenue retention above 140% — meaning the existing customer base alone expands about 40% a year. At $134B that is roughly 25x run-rate; the reported (unconfirmed) $175B IPO target would push it to about 32x, which requires the growth acceleration to hold through a roadshow.