Databricks closed a $5 billion funding round at a $190 billion valuation, CNBC reports, citing the company’s announcement on Thursday. The data analytics software company also said it has crossed a $7 billion revenue run rate and grew more than 80% year over year in its second quarter. The round was led by Coatue, Blackstone, MGX, T. Rowe Price and Sixth Street Growth, according to CNBC. Databricks said it will use the capital to support enterprise AI capabilities, including Unity AI Gateway, its governance tool, and Genie, its agentic tool. The financing comes only six months after Databricks raised $5 billion in funding and secured $2 billion in new debt capacity at a $134 billion valuation, CNBC reports. On the company’s reported figures, the new round marks a sharp step up in private-market valuation while Databricks remains off the public markets. Founded in 2013, Databricks helps companies build artificial intelligence agents and applications using proprietary data, according to CNBC. The company ranked No. 3 on CNBC’s 2026 Disruptor 50 list and has exceeded public-market rival Snowflake in market value, CNBC reports. The company is also pushing beyond its original data analytics base into newer product lines. CNBC reports that Databricks’ recent Lakebase database launch puts it in competition with incumbents including Oracle and SAP, and that Databricks says Lakebase has already surpassed a $100 million revenue run rate. Databricks also said its Lakehouse data warehousing tool has surpassed a $1.5 billion run rate, according to CNBC. In March, the company moved into cybersecurity with Lakewatch software, the outlet reports. The broader backdrop is a private-market funding environment that continues to let large technology companies defer initial public offerings. CNBC frames Databricks as one of several companies delaying a public listing while private capital remains available, even as IPO activity is being watched closely across the technology sector. Who benefits: Databricks benefits by adding capital while marking up its valuation from the prior $134 billion round. Its lead investors gain exposure to a private data and AI platform that says it is growing revenue run rate by more than 80% year over year. Who's exposed: Public-market rivals and incumbents named in CNBC’s report, including Snowflake, Oracle and SAP, face a better-capitalized Databricks in overlapping data, warehousing and database markets. The degree of competitive impact is still unclear from the provided reports.