Databricks Secures Record-Breaking Funding, Reaching $62 Billion Valuation in AI Infrastructure Push

Databricks has closed its Series J funding round, securing a record-breaking amount that values the AI and data platform at USD 62 billion. This landmark deal, finalized in December 2024, stands as one of the largest venture capital investments of the year.

The raise, driven by intense investor interest in AI infrastructure, underscores the critical role of platforms that help enterprises manage data, train models, and operationalize AI. The round was led by Thrive Capital, with participation from several prominent investment firms. A significant portion of the capital is designated to provide liquidity for current and former employees, with the remainder aimed at accelerating the development of its lakehouse platform, expanding generative AI offerings, and fueling international expansion and strategic acquisitions.

This financing round highlights the immense capital flowing into the AI sector. For context, earlier in the year, OpenAI closed a USD 6.6 billion round, valuing the company at USD 157 billion.

For startups and investors, the deal signals a sustained belief in the long-term strategic value of foundational AI infrastructure companies, even amid concerns about market hype. The 2024 funding wave confirms that the next chapter of AI will be written not only by model creators but also by the platforms that provide the essential data management, governance, and deployment pipelines for real-world enterprise AI.