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Databricks Hits $100 Billion Valuation with $1 Billion Raise, Projects $4 Billion Revenue

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Databricks, the San Francisco-based data analytics and AI firm, announced on Monday that it has closed a $1 billion Series K funding round at a $100 billion valuation, cementing its position as one of the world’s most valuable private companies.

The round was co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital, and WCM Investment Management. The fresh capital will fuel Databricks’ AI strategy, supporting new product launches, acquisitions, and advanced research.

The company revealed it is now on track to hit $4 billion in annualized revenue, with AI-related products contributing $1 billion. Its customer base has grown to around 15,000 clients, including Shell and Rivian, while its Lakebase data warehouse has already reached tens of millions in annualized revenue just months after launch.

CEO Ali Ghodsi said Databricks will remain cash-flow positive, keeping the option of an IPO open but without a fixed timeline. The company is also investing in Agent Bricks, its new AI platform for building autonomous systems, and recently acquired Tecton, a machine learning startup.

With net revenue retention above 140%, over 650 customers spending more than $1 million annually, and positive free cash flow, Databricks is positioning itself as a leader in the AI and big data race—and a likely candidate for one of the most anticipated IPOs in the sector.

Klarna Q2 Revenue Rises 20% Amid IPO Pause

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Swedish fintech Klarna reported on Thursday that its second-quarter revenue grew 20% year-on-year on a like-for-like basis, while adjusted operating profit increased slightly. Revenue for April–June reached $823 million, with adjusted operating profit at $29 million, up $1 million from the same period last year.

The number of active Klarna customers rose 31% year-on-year to 111 million. The company, known for its short-term financing model that reshaped online shopping, paused its planned U.S. initial public offering (IPO) in April due to recession concerns and uncertainty over tariffs.

Klarna had publicly filed its IPO paperwork in March, marking its second attempt to go public in three years since starting the process in November 2024. The company has not indicated when it will resume its IPO plans, though Bloomberg reported last month that it could occur as soon as September.

Sea Ltd Beats Revenue Estimates on Shopee and Gaming Demand

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Sea Ltd (SE.N) reported stronger-than-expected quarterly revenue on Tuesday, driven by robust performance in its Shopee e-commerce platform and gaming division Garena, lifting its U.S.-listed shares nearly 19% in early trading.

Shopee revenue surged 33.7% to $3.8 billion in the April-June quarter, with gross merchandise value (GMV) rising 28% to $29.8 billion. The company attributed growth to competitive pricing, enhanced customer experience, and social engagement features like live-streaming and mini-games offering redeemable rewards. Sea now expects Shopee’s annual GMV growth to exceed its prior 20% forecast.

Garena, Sea’s digital entertainment unit, saw revenue climb 28.4% to $559.1 million, fueled by its popular mobile game “Free Fire”, which added 17.8% more paying users and recorded a 23% increase in bookings for the quarter. CEO Forrest Li projected bookings growth for the year to exceed 30%.

Sea’s digital financial products segment, including its Monee app, contributed $882.8 million, up 70%, reflecting rising demand for payment and credit services.

Overall, Sea posted total Q2 revenue of $5.26 billion, up 38.2% year-on-year, surpassing analyst estimates of $4.98 billion. CEO Li highlighted that the company has reached a stage where it can pursue growth opportunities while improving profitability.