Data-analytics and AI infrastructure firm Databricks is reportedly in talks for a fresh funding round that could value the company at around $134 billion, reflecting the growing investor appetite for AI-first enterprise solutions. The capital raise comes as global businesses increasingly seek scalable AI and data infrastructure.

The company is believed to be aiming to raise approximately $5 billion, a round that would value it at nearly 32 times its projected revenue for 2025, estimated at $4.1 billion. Databricks has revised its sales forecasts upward multiple times this year, reflecting stronger-than-expected adoption of its data and AI services.

Despite strong growth, Databricks has cautioned potential investors that its gross margin is slightly lower than projected, dipping to about 74% from earlier estimates of 77%, largely due to higher investment in AI product development and delivery.

Founded in 2013, Databricks provides a unified platform that allows enterprises to ingest, process, and analyze data while developing AI applications. The company now serves over 20,000 customers, including major global corporations, and is considered a strong candidate for an eventual public listing.

If completed at the anticipated valuation, this funding round would mark a significant leap from its last capital raise in September 2025, when Databricks was valued at just over $100 billion. The new round underscores the rising demand for enterprise-grade AI solutions, positioning Databricks to continue expanding its influence in the global AI and data analytics market.