Databricks has raised fresh capital in a new funding round that values the company at around $134 billion, according to information shared by people familiar with the development.

While the company has not disclosed the size of the round, the latest investment is expected to give Databricks additional financial headroom as it looks to scale its business and invest further in its data and AI platform. The funding details were communicated late on Tuesday.

Databricks, which was founded on open-source data technologies, has seen growing adoption among large enterprises managing complex data workloads. In recent months, the company has also stepped up its focus on artificial intelligence, particularly tools that allow organisations to build and deploy AI models using their own data.

Market observers said the valuation underscores continued investor interest in companies providing core data infrastructure, even as funding activity remains uneven across the global technology sector.

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The company is understood to be evaluating expansion plans across product development and partnerships, though no specific timelines have been outlined so far.

Further details regarding the funding round and its investors are expected to be disclosed at a later stage.

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