MGX co-leads $5B Databricks round at $190B valuation
Abu Dhabi-based technology investment firm MGX has co-led a $5 billion funding round for artificial intelligence platform Databricks, a raise that values the San Francisco company at $190 billion.
The round was co-led by Coatue, Blackstone, T. Rowe Price, and new investor Sixth Street Growth.
What Databricks does
Databricks provides an enterprise AI platform that helps large organisations manage, govern, and extract intelligence from their data. At least 60 per cent of its client base is made up of Fortune 500 companies.
The firm recently surpassed a $7 billion revenue run-rate and reported more than 80 per cent year-over-year growth in its second quarter.
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Why it matters
For a Gulf-based investor with deep sovereign linkages, the deal signals appetite for the picks-and-shovels layer of the AI buildout rather than the application surface alone.
MGX is placing capital at the infrastructure and enterprise governance level of the AI stack — where switching costs are high and the customer base is recession-proof. The move follows the firm's July commitment, alongside BlackRock, to invest $5 billion in Aligned Data Centres, and a June signing for an AI campus expansion in France.
The cadence suggests a corridor connecting Abu Dhabi's patient capital to the US-EU AI backbone is quickly hardening into a structural allocation, not a one-off trade.
"The tremendous investor demand for this round shows that our AI strategy is winning the market and building what every business needs to maximise their impact with agent," said Ali Ghodsi, co-founder and chief executive of Databricks. "Enterprises don't just want AI that talks, they want agents working across their business that remember context, deliver accurate answers and execute work without blowing through their budgets."
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