Databricks Valuation Today (25 November 2025): Private Market Price Near $125 Billion as New Funding Talks Target $130 Billion+

Databricks has become one of the most closely watched private AI companies on the planet — and as of 25 November 2025, multiple data points suggest its current implied valuation sits in the $120–130 billion range, with a central estimate around $125 billion.

Below is a breakdown of how we get to that number, based on the latest funding news, secondary-market pricing, and official company disclosures.

Quick snapshot: Databricks’ valuation on 25 November 2025

On today’s date, the most important valuation signals are:

Last official primary round (Series K): ~$100 billion post‑money
Databricks announced in August and September 2025 that it had signed and then closed a Series K round valuing the company at more than $100 billion, while surpassing a $4 billion annual revenue run‑rate and $1 billion AI revenue run‑rate. ^[1]
Secondary‑market “Forge Price” valuation: $124.71 billion (today)
On private‑share marketplace Forge Global, the Forge Price™ for Databricks is $187.06 per share as of 25 November 2025, implying a “Forge Price valuation” of about $124.71 billion for the company’s equity. ^[2]
New funding talks: target valuation north of $130 billion
Multiple outlets, citing The Information, report that Databricks is in active discussions to raise a new funding round at a valuation “above” or “north of” $130 billion — roughly 30% higher than the Series K price two months ago. ^[3]

Taken together, today’s best estimate is:

Estimated Databricks valuation on 25 November 2025:
≈ $120–130 billion, with a central “market‑implied” figure around $125 billion.

This is not an official company figure, but rather a synthesis of current private‑market pricing and credible media reporting.

How we derive today’s estimated valuation

Because Databricks is still a private company, there is no single, continuously updated “official” market cap like you’d see for a public stock. Instead, investors look at three main yardsticks:

1. Primary funding valuation (anchor: $100B)

Databricks’ Series K round is the last fully priced primary financing that the company itself has confirmed.

On 19 August 2025, Databricks announced it had signed a Series K term sheet valuing the company at more than $100 billion. ^[4]
On 8 September 2025, the firm said it was closing $1 billion of Series K capital at a valuation above $100 billion, while disclosing:
- Annualized revenue run‑rate above $4 billion
- AI products above $1 billion run‑rate
- 50% year‑over‑year growth and positive free cash flow. ^[5]

That Series K round formally set the last primary post‑money valuation at ~$100 billion.

2. Secondary‑market pricing (anchor: ~$125B)

Since then, Databricks shares have been trading in private secondary markets:

Forge Global shows a Forge Price of $187.06 per share as of 25 November 2025, with an implied equity valuation of $124.71 billion. ^[6]
The same page shows that Series K shares were priced at $150 per share and a $100B post‑money valuation, confirming that the Forge Price now sits roughly 25% above the Series K financing price. ^[7]
A separate valuation service, PM Insights, notes that as of 10 November 2025 its tracked secondary prices put Databricks shares at about a 17–18% premium to the Series K post‑money valuation, also implying a value above $100 billion. ^[8]

These private‑market indicators are not official appraisals, but they show what accredited investors are actually willing to pay for Databricks stock today.

3. New funding talks (anchor: $130B+)

A cluster of November 2025 reports say Databricks is negotiating a fresh primary round at an even higher price:

Reuters, citing The Information, reports that Databricks is in talks to raise capital at a valuation of more than $130 billion, roughly 30% above its last financing round. ^[9]
Bloomberg similarly writes that Databricks is seeking funds at a valuation “north of $130 billion”, with a potential $3–5 billion capital raise under discussion. ^[10]
A Reuters analysis piece carried on TradingView notes that the mooted $130 billion price tag would value Databricks at about 22× expected revenue, a hefty premium to Snowflake’s multiple. ^[11]
TechCrunch, Benzinga, Investing.com, and others echo that Databricks is already in conversations but has not yet signed a term sheet, underlining that $130B+ is a target, not a closed valuation. ^[12]

Because that round is still in negotiation, the $130B+ level is better thought of as a ceiling for current expectationsrather than today’s locked‑in value.

Putting it together

Floor: The Series K round establishes a hard floor of ~$100B.
Live trading signal: Forge’s derived valuation of $124.71B reflects recent secondary trades and bid/ask levels. ^[13]
Upside scenario: If new fundraising at $130B+ closes, that will reset the headline valuation 30% above Series K. ^[14]

Given those inputs, a reasonable working estimate for Databricks’ valuation on 25 November 2025 is:

Range: $120–130 billion
Central estimate: Close to the Forge Price implied valuation of $124.7B, which sits almost exactly between the last official round (~$100B) and the rumoured next step (~$130B+).

This is not investment advice or an official figure — just a synthesis of today’s observable data points.

Databricks’ valuation trajectory: from $62B to $130B talks

To understand why Databricks can command these numbers, it helps to look at the last year of funding history.

December 2024: Series J at $62B

In December 2024, Databricks raised a Series J round that valued the company at $62 billion, according to the company’s own press release and private‑market data providers. ^[15]

At that point, Databricks was already a top‑tier data and AI platform, but the generative AI explosion of 2025 had not yet fully repriced its franchise.

August–September 2025: Series K vaults Databricks to $100B+

By August 2025, Databricks announced a signed term sheet for Series K at a valuation above $100 billion, a roughly 61% jump from the $62B Series J. ^[16]
In September 2025, Databricks confirmed it was closing $1B in Series K capital at that >$100B valuation, alongside major operating milestones:
- $4B+ annualized revenue run‑rate
- AI products at $1B run‑rate
- More than 20,000 customers, including over 60% of the Fortune 500. ^[17]

By autumn 2025, Databricks had joined a small group of $100B+ private AI companies, putting it into the same valuation conversation as OpenAI and a handful of other late‑stage giants. ^[18]

November 2025: From $100B to “north of $130B” in two months

Fast‑forward just two months:

The Information’s reporting — widely relayed by Reuters, Bloomberg, Gurufocus, Proactive Investors and other outlets — says Databricks is now negotiating a fresh round at >$130B, around 30% higher than the Series K price. ^[19]
Analysts note that such a valuation would give Databricks a higher implied revenue multiple than Snowflake, its closest public comp in data analytics. ^[20]

Meanwhile, secondary‑market platforms like Forge and PM Insights show private Databricks shares trading well above the Series K price, lending practical support to those higher valuation ambitions. ^[21]

What’s driving Databricks’ soaring valuation?

Several fundamentals underpin why investors are willing to pay these prices for Databricks in late 2025.

1. Fast‑growing revenue and AI mix

Databricks’ own September 2025 release highlights: ^[22]

>$4 billion revenue run‑rate, up more than 50% year‑on‑year
>$1 billion AI revenue run‑rate, showing that AI is no longer a side product but a core revenue engine
Positive free cash flow over the previous 12 months, which is relatively rare for hyper‑growth AI infrastructure companies

Investors are effectively paying for a combination of scale, growth, and improving profitability, which together help justify premium multiples.

2. Strategic role in the enterprise AI stack

Databricks positions itself as the “Data and AI company” powering data intelligence platforms for enterprises — not just as a point‑solution vendor. ^[23]

Recent moves reinforce that narrative:

The company has rolled out Databricks Agents and is pitching itself as the database and orchestration layer for production‑grade AI agents running on enterprise data. ^[24]
A high‑profile $100M+ multi‑year partnership with OpenAI gives Databricks customers native access to OpenAI’s frontier models (including GPT‑5) from within the Databricks platform, strengthening its role as a central gateway for enterprise AI workloads. ^[25]

That positioning — sitting at the intersection of data infrastructure and cutting‑edge AI models — is exactly what late‑stage growth investors currently prize.

3. Private‑market momentum and scarcity value

The rumoured $130B+ round also reflects broader private‑market dynamics:

Reuters’ analysis notes that a $130B price implies around 22× expected revenue, well above Snowflake’s trading multiple but consistent with investors’ willingness to pay up for category‑defining AI platforms. ^[26]
Forge’s Forge Price valuation of $124.71B and strong secondary‑market returns over the last year suggest there is robust demand for Databricks shares among private investors, even before an IPO. ^[27]

In other words, Databricks enjoys scarcity value: there are very few large‑scale, revenue‑rich AI infrastructure plays available, so capital is crowding into the few that exist.

Risks and sustainability of a $120–130B valuation

While the numbers are eye‑catching, several caveats matter for anyone interpreting Databricks’ valuation today.

1. The $130B figure is still a negotiation

Reports are clear that no new term sheet has been signed yet. ^[28]

The final valuation of the next round, if it closes at all, could end up lower, equal to, or higher than the currently floated $130B+ level.
Macro conditions, AI‑sector sentiment, or Databricks’ own performance could lead to repricing before any deal becomes binding.

2. Private‑market prices are less transparent than public markets

The Forge Price valuation of $124.71B is derived from a mix of recent trades, bids, and asks on a private secondary platform. ^[29]

Trading volumes are relatively small compared with a public market.
Individual trades may be influenced by liquidity needs of insiders or specific investors.
As PM Insights itself notes, full details of Databricks’ secondary pricing and mutual‑fund marks are available only to subscribers, underlining the limited transparency of these numbers. ^[30]

So while secondary prices are useful signals, they are not as robust as a continuously traded public stock price.

3. Bubble risk in AI valuations

Coverage from Bloomberg, Reuters, Gurufocus and others explicitly links Databricks’ fundraising talks to a broader debate about a potential “AI bubble”: ^[31]

A $130B valuation at ~22× expected revenue leaves little room for error if growth slows.
Competition in AI infrastructure (from hyperscalers, Snowflake, open‑source stacks, and new entrants) remains intense.
If sentiment turns against high‑multiple AI names, late‑stage private valuations like Databricks’ could be particularly vulnerable.

For now, though, private‑market demand appears strong enough to support the current range.

What this means for a future Databricks IPO

Several analysts and venture firms expect Databricks to pursue an IPO in late 2025 or 2026, depending on market conditions. ^[32]

Key implications of today’s valuation estimates:

If the new funding round prices at $130B+, that figure will likely become the headline IPO benchmark, even if public markets later mark the company up or down.
If Databricks chooses to delay going public and instead raises more private capital, secondary platforms like Forge will continue to serve as the de facto real‑time valuation reference for many investors. ^[33]
A successful IPO anywhere near these numbers would instantly make Databricks one of the most valuable newly public software and AI companies in history, and a core holding in many growth and AI‑themed portfolios.

Until then, the best way to talk about Databricks’ value on 25 November 2025 is as a range:

Last fully priced primary round: >$100B
Secondary‑market implied valuation (today): ~$124.7B
Targeted valuation in new funding talks: >$130B

That’s why a $120–130B band, centered around ~$125B, is the most defensible estimate of Databricks’ valuation right now — with the important reminder that all of these figures remain private‑market marks, not public‑market facts.

Databricks CEO Ali Ghodsi on company hitting $100B valuation in latest funding round