Woofun AI reports that Databricks has secured a $3 billion investment round led by Coatue, establishing a new valuation of $188 billion. This figure represents a 40% increase from the $134 billion valuation recorded at the end of last year.

The AI data platform’s annualized revenue run rate surpassed $5.4 billion in February, with AI-specific products contributing $1.7 billion. Databricks primarily facilitates enterprise data storage, analysis, and AI model management. The fresh capital infusion allows the company to postpone its initial public offering for a longer period.