Databricks Raises $7 Billion for AI Agent Database

Databricks has seen its valuation more than double in 13 months to $134 billion.

The data analytics/artificial intelligence (AI) company announced that valuation Monday (Feb. 7) along with $7 billion in new investments: $5 billion of equity financing and roughly $2 billion of additional debt capacity.

Databricks says it will use the new capital to bolster Lakebase, its serverless Postgres database for AI agents, and Genie, a conversational AI assistant.

“We’re seeing overwhelming investor interest in our next chapter as we go after two new markets,” said Ali Ghodsi, co-founder and CEO of Databricks.

“With this new capital, we’ll double down on Lakebase so developers can create operational databases built for AI agents. At the same time, we’re investing in Genie to let every employee chat with their data, driving accurate and actionable insights.”

In addition to the new valuation and financing, Databricks announced a few quarterly business milestones, including a revenue run-rate of more than $5.4 billion, up more than 65% year over year. The company also reached a $1.4 billion revenue run-rate for its AI offerings.

The announcement comes nearly two months after a report that Databricks was hoping to reach a $134 billion valuation with new fundraising. That figure is up 34% from the company’s funding round in September. In January of last year, the company was valued at $62 billion.

The new funding is also happening as tech companies grow increasingly familiar with AI agents, as shown by PYMNTS Intelligence research. The same research also shows a gap between tech firms and goods/services businesses.

Tech companies “have greater exposure to AI development, deeper engineering talent and longer investment horizons than most goods-producing or services companies,” PYMNTS wrote last week. “As a result, they are both more knowledgeable about agentic AI and more willing to explore its use in real operations. Other sectors are watching closely but moving more slowly, constrained by regulatory uncertainty, skills gaps and concerns about control.”

The research shows that 75% of tech firms say they are extremely familiar with agentic AI, compared with around a third of goods-producing companies and 38% of services firms.

The data also shows an “exploration gap,” with 42% of technology companies actively exploring how to integrate agentic AI into their operations. Under 4% of goods firms say they are doing the same, and no services firms are looking to add agentic AI.