Databricks Clears Above the Next Round: June 2026

Databricks no longer looks like a lagging common-secondary name. The visible secondary tape is clearing above the $190 Series L preferred price, and the reported $165B-$175B round talk is following the market rather than setting it. The uncomfortable part for employees: the public visible number is higher, but liquidity is still approval-gated and the exact transfer terms remain opaque.

Forge shows a $242.04 Forge Price and a $170.7B Forge-implied valuation for Databricks, against a Series L preferred price of $190.00 and a $134B post-money mark. That puts the visible secondary mark 27.4% above the last primary price. 1

Instrument note: this is a Forge Price data point derived from secondary activity, not a disclosed direct trade. Share class is not disclosed by Forge; treat it as a common-secondary proxy, not a company tender price. Transaction size is not public. 1

Nasdaq Private Market estimates Databricks at $210.73 per share, shows a $234.00 last trade, a $260.80 highest bid, and a $188.50 lowest offer. The low offer is near the Series L preferred price; the last trade and Forge mark are well above it. 2

Instrument note: NPM presents marketplace indications and last-trade data. Exact share class, settlement path, and trade size are not disclosed on the public page. 2

Reuters, citing The Information, reported that Databricks has discussed a round that could value the company at $165B-$175B. The low end is 23.1% above the $134B Series L valuation; the high end is 30.6% above it. That range brackets Forge's $170.7B implied valuation almost exactly. 3 1

Databricks itself announced the Series L at a $134B valuation and said the capital was expected to provide employee liquidity, fund AI acquisitions, and deepen AI research. The same company press record shows the earlier Series K term sheet at a >$100B valuation in August 2025, which is the baseline for the valuation ladder shown in the card. 4 5

If you hold Databricks common options: your observable secondary number is roughly $234-$242, not just the $190 preferred mark, and not the reported new-round headline. The mechanism still matters. A visible mark does not equal cash unless the company approves the transfer, the buyer clears, and the instrument is one you can actually sell.

Ali Ghodsi told Bloomberg that Databricks wants to create a market transaction mechanism for employees, while also saying the company does not plan to tap public markets this year. 6