Databricks Forecasts $4B in Annual Revenue, Fueled by AI Boom
The company, which stores, catalogs and processes large data sets, closed a $1 billion round that values the big data software firm at more than $100 billion
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Data analytics firm Databricks this week said it is on track to surpass a $4 billion annualized revenue run rate, up about 50% year-on-year, on surging demand for its artificial-intelligence products.
Databricks made the announcement on Monday as it closed a $1 billion round, co-led by existing investors Andreessen Horowitz, Insight Partners, Abu Dhabi-backed investor MGX, Thrive Capital and WCM Investment Management, valuing the big data software firm at more than $100 billion.
The company, which stores, catalogs and processes large data sets, said it will use the fresh funds to accelerate its AI roadmap, including scaling Agent Bricks and Lakebase, and to support global expansion.
At its Data + AI Summit held in June, the company introduced Agent Bricks, designed to build high-quality, production AI agents optimized for enterprise data.
It also launched Lakebase, a new operational database category built on open-source Postgres, tailored for AI agents. The fresh capital will also support AI-focused acquisitions and deeper AI research.
Ali Ghodsi, Co-Founder and CEO of Databricks, said, “Our teams are putting up these results by building the data and AI infrastructure that enterprises will rely on for decades. With this new capital, we can move even faster with Agent Bricks, helping customers in every industry turn their data into production AI agents, and carry more momentum as we create the new Lakebase category, reinventing databases for AI agents.”
Databricks’ surge is backed by strong ecosystem ties. Over the past two quarters, it has launched or expanded partnerships with Microsoft, Google Cloud, Anthropic, SAP, and Palantir. To further fuel innovation, the company has also signed new office leases in San Francisco and Sunnyvale, aiming to attract top AI talent.
The Databricks Data Intelligence Platform remains central to its growth. Built on an open-source foundation, the platform makes it easier for organizations to unify and analyze data while powering AI apps and agents, ultimately helping enterprises unlock new revenue streams, cut costs, and reduce risks.
