Databricks wraps $5 billion funding round at $190 billion valuation

Databricks, a company that helps organizations build AI agents (software programs that can perform tasks autonomously) and applications using their own data, closed a $5 billion funding round at a $190 billion valuation. The company has seen strong growth, crossing $7 billion in revenue and highlighted its AI Gateway tool, which helps control how much companies spend on AI models. CEO Ali Ghodsi attributed the strong demand partly to companies becoming concerned about AI costs rising too quickly, making them more interested in tools that manage expenses.