Databricks is raising $4 billion, boosting its valuation to $134 billion, a 34% increase since August. The company aims to enhance customer app development for AI and is considering an IPO in 2026. It reported a $4.8 billion revenue run-rate, with significant growth in AI-related revenue.

Databricks is reportedly in discussions to raise $5 billion, boosting its valuation to $134 billion. The funding follows a prior round at a $100 billion valuation, driven by increasing demand for its AI and data analytics platform. However, the company is facing pressure on its margins due to rising costs associated with its AI offerings.