AI data company Databricks has closed a $5 billion funding round at a $190 billion valuation, a sharp jump from around $134 billion just six months earlier.

The round was led by Coatue, with Blackstone, MGX and T. Rowe Price joining alongside existing backers like Andreessen Horowitz, Thrive Capital and Temasek. Databricks' annualized revenue run-rate has passed $7 billion, growing more than 80% year over year, as CEO Ali Ghodsi leans hard into the AI boom.

The step-up cements Databricks among the most valuable private companies in the world and shows investor appetite for AI infrastructure leaders is still running hot despite bubble worries.