Databricks Valuation Keeps Climbing

Private data analytics powerhouse Databricks is looking to raise money at a $130 billion valuation, according to a recent report from The Information. If that sounds high, well, it is—the company was valued at $100 billion just two months ago in September. That's a 30% bump in eight weeks, which is the kind of trajectory that makes early investors very, very happy.

When Databricks raised $1 billion in that September round, the company said it was tracking toward $4 billion in annualized revenue. Not bad for a business competing against the likes of Snowflake (SNOW) and Palantir Technologies (PLTR) in the hot AI and data analytics sector. The company claims more than 15,000 customers.

So why not go public? CEO and co-founder Ali Ghodsi explained the thinking last year: "This year was an election year. We wanted to get some stability — people are worried about interest rates, inflation," he told TechCrunch. "So we said 'Look, it's dumb to IPO this year,' so we're definitely going to wait."

Ghodsi suggested an IPO could happen in 2025 or 2026, but with another funding round apparently in the works, it seems Databricks is in no rush to face public market scrutiny. When you can raise private capital at escalating valuations, why wouldn't you wait?

The Winners: Pelosi, Wood, and Nvidia

The valuation surge is creating serious paper gains for Databricks' early backers. Let's start with the most public of the bunch: former Speaker of the House Nancy Pelosi.

On March 4, 2024, Pelosi disclosed an investment in Databricks through Forge Investments. Actually, it was her husband Paul Pelosi—a venture capitalist—who made the investment, but congressional disclosure rules require members to report their spouses' trades. The investment was listed in the $1 million to $5 million range, which is how congressional disclosures work: broad brackets instead of exact figures.

Here's where it gets interesting. The Forge Investments website shows Databricks was valued at $43.4 billion during the September 2023 funding round, with shares priced at $73.50. The Pelosis likely invested near that $43 billion valuation in early 2024.

Fast forward to today's $130 billion valuation, and that represents a 302.3% increase from the $43 billion level. Simple math: a $1 million investment would now be worth roughly $3.02 million, while a $5 million stake would be worth around $15.12 million. That means Pelosi's investment has gained somewhere between $2 million and $10.12 million on paper.

The Databricks investment attracted scrutiny at the time because of its size, the fact that it was a private company, and because Databricks is headquartered in San Francisco—right in Pelosi's congressional district. By the way, Pelosi recently announced she won't run for re-election in 2026, which means her investment disclosures will stop becoming public after January 2027.

Cathie Wood's Ark Invest also jumped in during that September 2023 funding round at the $43 billion valuation. The firm holds Databricks shares through the Ark Venture Fund (ARKVX), where the company currently ranks as the 12th-largest holding, accounting for 2.59% of assets as of October 31, 2025. With the new valuation, Databricks could crack the fund's top 10 holdings depending on how other positions have performed.

And then there's Nvidia (NVDA), which also invested in Databricks during the 2023 round. Nvidia is already riding high on massive demand for its AI chips, but its Databricks stake has quietly produced a nice return on the side. Not that Nvidia needs the help, but a 300% gain never hurts.

The broader story here is how private companies with strong AI and data analytics credentials can keep raising money at higher and higher valuations without the hassle of going public. Databricks has plenty of patient capital willing to wait for an eventual IPO, and with numbers like these, it's easy to see why everyone's happy to keep the party going a bit longer.