Speculation about a Databricks IPO has heated up in the last few weeks following the AI company’s most recent funding round.

Databricks recently reached a valuation exceeding $100 billion following its latest funding round, joining the elite group of most-valuable private companies like SpaceX, ByteDance and OpenAI.

This morning, data and AI giant Databricks said it had raised a new $500 million funding round from venture capitalists, crossover capital funds, and strategic investors. The new cash values ...