Databricks signs financing term sheet at $188B valuation; reported round could reach $3B

Databricks said it signed a term sheet for a strategic financing led by existing investor Coatue at a $188 billion valuation. Reuters, citing the Wall Street Journal’s unnamed sources, reported that the proposed investment is $3 billion. The valuation is $54 billion, or roughly 40%, above the $134 billion mark associated with an approximately $5 billion financing earlier in 2026. The transaction is expected to close later in the summer, so it should be treated as a proposed round rather than completed funding.