Databricks, a data and AI company, said on Thursday its annualised revenue had exceeded $7 billion.

The company said Databricks grew by more than 80 percent in the second quarter from a year earlier. Databricks also completed a $5 billion strategic investment round that valued the company at $190 billion.

Databricks said it plans to use the funds raised in the investment to accelerate innovation in key AI products. These include Lakebase, a serverless PostgreSQL database designed for developing AI agents, Genie, an AI solution that supports answers and task execution based on enterprise data, and Unity AI Gateway, which supports governance and cost management across multiple AI models.

Coatue led the investment round, and Blackstone, MGX and T. Rowe Price Associates also participated.

Databricks co-founder and CEO Ali Ghodsi (알리 고드시) said, "Enterprises want AI agents that go beyond simply conversational AI, remember the context across the business, provide accurate answers, and perform real work while managing costs efficiently." He said, "To do that, you need real-time operational data through Lakebase, business context across the enterprise through Genie, and multi-AI cost management through Unity AI Gateway. The strong investor demand for this investment round shows that Databricks' AI strategy is delivering results in the market and that it is providing the technology enterprises need to maximise business value through AI agents."

Ghodsi also stressed the more than 80 percent second-quarter growth in a post on social media platform X (Twitter). "AI has already been superintelligent for quite a long time, but it lacked the context that sits in people's heads or in SaaS systems. Many organisations deploy FDEs or use ontologies to capture this context and provide it to AI, but that is labour-intensive and costly. We automated this with Genie Ontology," he said.