Helix has partnered with Databricks to launch Helix Research Workspaces, a Trusted Research Environment for population-scale clinicogenomic research. The platform provides approved partners secure access to analysis tools and compute capabilities for more than 550,000 linked clinicogenomic records. Built on the Databricks Data + AI platform, Research Workspaces gives researchers access to GenoSphere clinicogenomic records, which combine genomic data with an average of over 13 years of electronic health records. The environment features population-scale genomic analysis tools, AI-assisted coding, collaborative workspaces, and integrated oversight capabilities. Helix found that researchers using Research Workspaces had lower compute costs compared to similar work on different platforms. The launch follows Helix's earlier release of Cohort Builder, which enables researchers to build targeted clinical and genomic cohorts.

Databricks is ramping up investment in Asia as the region becomes its fastest-growing market, with business more than doubling in the second quarter. The San Francisco-based analytics and AI software company, valued at $190 billion after an August funding round, plans to invest over $350 million in Singapore over three years and double its headcount there to more than 500 employees. The firm is investing over $1 billion across Asia-Pacific over the next three years, expanding from its current 1,500 regional employees. Databricks generated a $7 billion revenue run rate in August, up from $5.4 billion in February. The company recently launched Unity Gateway and Genie One, tools helping customers manage AI costs and automate tasks.

A new PitchBook report argues that Databricks' $190 billion valuation is too steep, estimating the company's actual operating value at around $68.7 billion — a 64% discount. Senior analyst Harrison Rolfes projected Databricks' revenue and cash flow over 10 years, forecasting the company will generate $9.3 billion annually by 2035. Even under the most optimistic scenario, assuming 80% gross margins and continued growth, the analysis values Databricks at only $182.1 billion. In August, Databricks raised $5 billion at the $190 billion valuation, led by Coatue. The company's annualised run rate increased 29.6% to $7 billion over six months. Databricks trades at 27 times its run rate, compared to competitor Snowflake's 20 times multiple. Whilst Databricks grows faster, Snowflake's audited figures provide more transparency than Databricks' self-reported numbers.