Databricks Raises US$5 Billion at US$190 Billion Valuation
Source: Fintech News SG
Databricks has pulled off one of the year's biggest private raises — US$5 billion at a US$190 billion valuation — and for Singapore, the fine print matters as much as the headline: GIC and Temasek are already on the company's cap table as existing backers, giving the city-state's sovereign funds a
Databricks has pulled off one of the year's biggest private raises — US$5 billion at a US$190 billion valuation — and for Singapore, the fine print matters as much as the headline: GIC and Temasek are already on the company's cap table as existing backers, giving the city-state's sovereign funds a direct seat in the AI infrastructure buildout that this round is financing.
The strategic round was led by Coatue, with Blackstone, MGX, T. Rowe Price and new investor Sixth Street Growth joining in. BOND, Clearlake Capital, Point72, Premji Invest and TPG also came in as new investors, alongside existing supporters Andreessen Horowitz and Franklin Templeton. Databricks says its revenue run rate has topped US$7 billion, with more than 80% year-on-year growth in its second quarter and adjusted free cash flow positive over the past 12 months — a combination that explains why investors are still writing nine-figure cheques in a market that has cooled on AI hype.
The proceeds are earmarked for the operational layer of enterprise AI rather than model training. Databricks plans to double down on Lakebase, its serverless Postgres database built for AI agents, which has already crossed a US$100 million revenue run rate; Genie, its natural-language analytics engine; and Unity AI Gateway, a layer that gives companies control over which models their agents call and what those calls cost. Its Lakehouse data warehousing product, meanwhile, has passed a US$1.5 billion run rate and is growing more than 100% year on year. More than 1,000 customers now generate over US$1 million in annual revenue with Databricks, and over 100 of those exceed US$10 million.
For Singapore's AI ecosystem, the round is a signal about where value is migrating. As local banks, government agencies and enterprises deploy agentic AI, the constraint is no longer raw model capability — it is having clean, real-time operational data that agents can act on, plus the tooling to keep multi-model spend in check. Databricks' growth curve suggests enterprises are voting for the data-platform-first approach, and Singapore's AI push, from GovTech to the MAS-backed financial sector, runs squarely through that layer.
Why it matters for Singapore: With GIC and Temasek among its backers, Databricks' valuation surge flows directly into Singapore's sovereign portfolio returns, while local enterprises get a more battle-tested platform for agent-ready data infrastructure. For Singapore startups building on the Lakehouse stack, the funding means deeper investment in the tools they depend on — and a stronger signal that the enterprise-agent thesis underpinning much of the local AI industry has institutional money behind it.
