UAE Investment Firm MGX Co-Leads Massive $5 Billion Funding Round for AI Giant Databricks

UAE-based technology investment company MGX has taken a leading role in a monumental $5 billion funding round for artificial intelligence firm Databricks.

The investment round was jointly spearheaded by Coatue, Blackstone, T Rowe Price, and new investor Sixth Street Growth, bringing the company's valuation to a staggering $190 billion.

“The investment will drive further innovation across Databricks’ AI platform, enabling more intelligent, trusted and governed use of enterprise data,” MGX shared on social media.

Databricks reported that at least 60 per cent of its clients belong to the Fortune 500. The firm also announced it has surpassed a $7 billion revenue run-rate, achieving over 80 per cent year-over-year growth during its second quarter.

This marks another major milestone during a busy summer for MGX. In July, a consortium backed by MGX and BlackRock committed to investing $5 billion to expand Aligned Data Centres following the acquisition of a major global data centre developer. Furthermore, Participating in a Paris technology summit a month prior, MGX helped seal an agreement to expand a UAE-backed artificial intelligence campus in France.

Reflecting on the latest financial milestone, Databricks co-founder and chief executive Ali Ghodsi expressed strong confidence in the company's trajectory. “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,” Ali Ghodsi stated, emphasizing that enterprises are increasingly seeking functional agents that maintain context, deliver precise answers, and operate within budgetary limits.