Databricks sales top 80% but margins shrink

Databricks annualized revenue jumped over 80% to $6.9 billion, but CEO Ali Ghodsi said gross margin will go lower as AI agents drive higher query costs. The company now gets $1.7 billion in annual revenue from AI products. Databricks holds a $134 billion private valuation, exceeding rival Snowflake's $83 billion market cap.