Data intelligence company Databricks is reportedly in talks to raise new capital, just a few months after its last funding round. According to reports, Databricks is holding conversations to raise a funding round that would value the company at a minimum of 130 billion dollars. The company has not yet signed a term sheet.
This potential valuation would represent a significant increase of at least 30 percent over the 100 billion dollar price tag Databricks achieved in its one billion dollar Series J funding round in August. At that time, Databricks co-founder and CEO Ali Ghodsi stated that the company raised the round to fund two specific projects. These projects are a database for AI agents and its AI agent platform.
Ghodsi explained the reasoning by pointing to the large database market. He shared a notable statistic, stating that a year ago, 30 percent of databases were created by AI agents, not humans. He further reported that this year, the statistic has jumped to 80 percent.
In a related move, Databricks purchased open-source database startup Neon for one billion dollars in May. This acquisition was one of the first transactions that kicked off a wave of consolidation in the database industry. Databricks did not immediately respond to a request for confirmation and more information on the new funding talks.