Databricks' valuation, last set at $190 billion in its August 2026 $5 billion strategic round, trades in secondary markets near $192–201 billion as of early October, supported by an annualized revenue run-rate exceeding $7 billion and year-over-year growth above 80%. Strong enterprise demand for its Lakehouse platform, Lakebase database, and AI agent tools such as Genie and Unity AI Gateway underpins the premium, with net retention above 140% and positive adjusted cash flow. Secondary pricing on platforms like Nasdaq Private Market and Forge has shown modest gains since the round, reflecting AI sector risk appetite amid Treasury yields and broader equity benchmarks. With the October 31 resolution date approaching, any material move hinges on fresh secondary prints or earnings updates rather than a new primary round.