Databricks completed a $5 billion funding round at a $190 billion valuation, announced August 13 and led by Coatue with participation from Blackstone, MGX, T. Rowe Price entities, and Sixth Street Growth. The company reported surpassing $7 billion in annualized revenue run-rate and more than 80 percent year-over-year growth in the second quarter. It competes with Snowflake and plans to expand enterprise AI tools including Unity AI Gateway and Genie.