Nancy Pelosi, Cathie Wood Make Millions On Databricks' New $100 Billion Valuation

Privately held data and AI company Databricks is now worth $100 billion thanks to a new funding round.

Ahead of a potential IPO in 2025 or 2026, the new funding round makes existing investors such as Rep. Nancy Pelosi (D-Calif.), Cathie Wood and NVIDIA Corp (NASDAQ:NVDA) big winners.

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What Happened: Databricks is now valued at $100 billion in a new Series K funding round, increasing the company's value 61% from 2024 valuations.

The new funding will be used for product development and potential M&A activity in the AI space.

Databricks has over 15,000 customers and competes with several companies, including Snowflake (NYSE:SNOW) and Palantir Technologies (NASDAQ:PLTR), in the data analytics and AI data spaces.

With the new funding, existing investors from the company's 2023 and 2024 funding rounds have watched their investments grow nicely.

This includes Ark Invest, which holds shares of the company via the Ark Venture Fund (NASDAQ:ARKVX). The Cathie Wood-led fund invested in Databricks in the September 2023 funding round when the company was valued at $43 billion. This means Ark Invest is up more than double on its investment, depending on whether it has participated in subsequent investment rounds.

Databricks is currently the 21st-largest