UAE's MGX co-leads Databricks strategic funding round

UAE-based technology investment firm MGX has co-led a $5 billion strategic funding round for artificial intelligence company Databricks, joining Coatue, Blackstone, T Rowe Price and new investor Sixth Street Growth in backing the data and AI platform. The round closed at a valuation of $190 billion, as Databricks reported that at least 60 per cent of its clients are Fortune 500 companies and that it has surpassed a $7 billion revenue run-rate after delivering more than 80 per cent year‑over‑year growth in its second quarter.

“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, chief executive and co‑founder 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.”

Deal details and participants

The $5 billion injection was co‑led by MGX together with a group of global investment firms. Participants named in the transaction include:

• MGX (UAE)
• Coatue
• Blackstone
• T Rowe Price
• Sixth Street Growth (new investor)

Databricks closed the round with a headline valuation of $190 billion. The company’s published metrics highlight a broad enterprise footprint—more than 60 per cent of customers are in the Fortune 500—and significant revenue momentum, exceeding a $7 billion run‑rate with over 80 per cent year‑on‑year revenue growth in the second quarter.

Context and recent MGX activity

MGX’s move into Databricks follows a busy summer for the UAE investor. In July, a consortium backed by MGX and BlackRock committed $5 billion to expand Aligned Data Centres after completing an acquisition of one of the world’s largest and fastest‑growing data centre developers. MGX was also part of a signing ceremony at a technology summit in Paris the previous month related to the expansion of a UAE‑backed artificial intelligence campus in France.

MGX publicly described the Databricks investment as intended to “drive further innovation across Databricks’ AI platform, enabling more intelligent, trusted and governed use of enterprise data.” For Databricks, the fresh capital comes as it positions its platform and agent offerings to meet enterprise demand for production‑grade AI that combines context, governance and cost control.

Outlook

The funding round underscores continued investor appetite for large, enterprise‑focused AI platforms that can scale across Fortune‑class customers. For Databricks, the capital and roster of backers provide both financial firepower and strategic signal as it pursues product development and market expansion. For MGX, co‑leading the round reinforces its recent strategic pivot toward major data infrastructure and AI investments, complementing its Aligned Data Centres commitment and international partnership activity.