Databricks’ recent $5 billion equity round at a $134 billion post-money valuation in February 2026, paired with 65% year-over-year revenue growth to a $5.4 billion annualized run rate, underpins the 64.5% market-implied probability that it will exceed Salesforce’s market capitalization on June 30. Secondary-market indications near $170 billion further reflect sustained investor appetite for its AI and data-platform momentum. In contrast, Salesforce’s public shares have traded with a market cap fluctuating between roughly $127 billion and $155 billion amid slower growth and sector pressure, creating a narrow but persistent edge for the private company’s valuation trajectory. With no major catalysts expected before month-end, traders are effectively pricing the stability of Databricks’ latest round metrics against Salesforce’s equity volatility.