Related News

Palantir stock slumps 9%, falling for a fifth-straight day from record

CEO of Palantir Technologies Alex Karp attends the Pennsylvania Energy and Innovation Summit on the campus of Carnegie Mellon University in Pittsburgh, Pennsylvania on July 15, 2025. Andrew Caballero-reynolds |

Crypto stocks tumble on Tuesday as investors go into risk-off mode

The Coinbase logo is displayed on a mobile phone screen with stock market percentages in the background. Idrees Abbas | Sopa Images | Lightrocket | Getty Images Crypto stocks suffered

ITR filing: What is updated income tax return and ITR-U? Who can file & what you can’t change – top points to know

ITR filing: Taxpayers who miss the regular deadline for filing their income tax return get an additional chance through the updated income tax return (ITR-U) facility, introduced under Section 139(8A)

Auto sector drive: Nitin Gadkari sets 5-year goal to make India no.1 globally, highlights Rs 22 lakh crore growth and logistics gains

Union Minister Nitin Gadkari on Tuesday said the government’s aim is to make India’s automobile industry the number one in the world within the next five years.Launching a report prepared

GST reforms: SBI sees Rs 1.98 lakh crore consumption boost; warns of Rs 85k crore annual revenue hit

The proposed revamp of the Goods and Services Tax (GST) into a two-tier structure with lower levies on household goods could lift consumption by Rs 1.98 lakh crore but also

Big ‘Make in India’ boost! IAF to get 97 LCA Mark 1A fighter jets; details here

The LCA Mark 1A variant features superior avionics and radar systems. (File photo) The Indian Air Force (IAF) is all set to get a major ‘Make in India’ boost with

Databricks says it’s valued at over $100 billion in new funding round

Word Count: 333 | Estimated Reading Time: 2 minutes

Ali Ghodsi, CEO of Databricks speaks on CNBC.

CNBC

Databricks has just entered an exclusive club.

The data analytics software vendor said Tuesday that it’s raising a funding round that values the company at over $100 billion. That would make Databricks just the fourth private company to eclipse the $100 billion mark, following SpaceX, ByteDance and OpenAI, according to data from CB Insights.

Databricks CEO Ali Ghodsi told CNBC’s Brian Sullivan that the total round will exceed $1 billion. The company was last valued by private investors at $62 billion in a $10 billion financing round late last year.

In June, Databricks executives told investors the company was forecasting $3.7 billion in annualized revenue by July, with 50% year-over-year growth.

Snowflake, one of Databricks’ top rivals, is expected to generate $4.5 billion in revenue for the fiscal year that ends in January, representing annual growth of 25%, according to LSEG. Snowflake currently has a market cap of about $65 billion. Other competitors include cloud providers such as Amazon and Microsoft, which are also Databricks partners.

Ghodsi said he heard from a lot of interested investors following Figma’s IPO late last month. Shares of the design software company more than tripled in their New York Stock Exchange debut, a sign that public investors are seeking out tech offerings after in extended lull in the IPO market.

“My phone was blowing up,” Ghodsi said on Tuesday. “So yes, there’s definitely been a big push from outside.”

Figma shares have since retreated from their initial $115.50 closing price. The stock is trading at about $70, still more than double the $33 IPO price.

Ghodsi said the round will help Databricks invest in products that clients can tap when using artificial intelligence models.

Founded in 2013 and based in San Francisco, Databricks ranked third on CNBC’s 2025 Disruptor 50 list. As of June, the company employed 8,000 people. Existing investors Andreessen Horowitz, Insight Partners Thrive Capital and WCM Investment Management are buying shares, a spokesperson said.

WATCH: Databricks CEO on AI: VCs are wondering if agentic AI will actually automate work