Analytics firm Databricks said on Monday it was on track to hit $4 billion in annualized revenue, up more than 50% from the prior year, on the back of surging demand for its artificial intelligence products. This follows the data and AI company’s Series K funding close, where it raised $1 billion at a valuation exceeding $100 billion, co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital and WCM Investment Management. The company plans to use the proceeds to accelerate its AI strategy, including expanding products, launching a new operational database category, and future AI acquisitions and research. In the second quarter, the company serving around 15,000 customers, including energy major Shell and electric-vehicle maker Rivian, surpassed a $4 billion revenue run rate, with AI products reaching $1 billion. Databricks is targeting a net revenue retention above 140%, more than 650 customers with more than $1 million in annual spending and positive free cash flow over the past 12 months, the company said.

Full report : Databricks raised $1 billion from Thrive, a16z, and others at a $100 billion valuation and is on track to generate $4 billion in revenue in its FY ending in January 2026, up 50% YoY.