San Francisco-Based Databricks’ $134B Data Gambit: How NVIDIA’s AI Chips Power the New Wall Street Darling - ( $NVDA $DABT.PVT ) - Vista Partners LLC

Databricks’ (DAVT.PVT) latest funding round has given Wall Street something it hasn’t seen in a while: a unicorn so large it makes many public-cloud darlings look like hobby projects. The data-and-AI specialist’s new six‑figure valuation—measured in billions, not millions—also happens to showcase how deeply NVIDIA (NVDA) has become the house pick-and-shovel trade behind the boom.

Databricks’ $134 Billion Moment

Databricks has secured more than $4 billion in fresh capital at a valuation of about $134 billion, vaulting the San Francisco firm into the upper tier of global software franchises before it has even tested public markets. The number implies investors are willing to pay roughly 30‑plus times this year’s projected sales for the privilege of owning a slice of its “lakehouse” vision, which blends data warehousing and data lakes into one platform.

That sort of multiple used to be reserved for companies that had already conquered their markets; Databricks is being priced as if the conquest is merely a formality. The firm recently said its revenue run rate has surged past $4 billion with growth north of 50%, while AI and data‑warehousing products each exceed a $1 billion run rate, figures that make its private‑market valuation look less like fantasy and more like a very expensive growth stock in waiting.

NVIDIA in the Engine Room

NVIDIA shows up in the Databricks story not as a cameo but as recurring cast. The chipmaker joined a prior $500 million Series I round that valued Databricks at around $43 billion, sliding in alongside T. Rowe Price and other blue‑chip investors. That early bet looks considerably smarter now that the company’s valuation has more than doubled, even by the usually forgiving standards of private tech.

The relationship is not merely financial. Databricks and NVIDIA have deepened their collaboration to optimize data and AI workloads on the Databricks Data Intelligence Platform using NVIDIA’s accelerated computing stack, with native GPU support now a selling point for enterprises training models and deploying AI agents. In an era when every board presentation includes at least three slides on “AI transformation,” having NVIDIA’s hardware under the hood is the enterprise equivalent of showing up to a track day with a factory pit crew.

AI Gold Rush, With Spreadsheets

Investors’ willingness to fund Databricks yet again—on top of a recent $1 billion K‑round and earlier mega‑rounds—reflects a conviction that enterprise AI will be built not in garages but on neatly governed data lakehouses. The company now serves tens of thousands of customers, including blue‑chip names from energy, telecom, autos and media, all keen to turn their operational data into something more glamorous than quarterly compliance reports.

In that sense, Databricks is less a speculative moonshot than a very large, very well‑capitalized bet that the future of AI will be dominated by infrastructure firms that help corporations wring insight out of their own data. NVIDIA, which already powers many of those AI workloads across the industry, stands to benefit whether Databricks ultimately lists at an even loftier valuation or merely settles into being one of the more handsomely priced tenants in the AI skyscraper it is helping to build.

San Francisco-Based Databricks’ $134B Data Gambit: How NVIDIA’s AI Chips Power the New Wall Street Darling – ( $NVDA $DABT.PVT )

Databricks’ $134 Billion Moment

NVIDIA in the Engine Room

AI Gold Rush, With Spreadsheets

The Sources

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