At least it is not unprecedented. Palantir raised a series I in 2020 after 17 years of operation.

At that time the Palantit valuation was considered 'hefty / overpriced' at $9B. Current stock price valuation, post IPO is a completely detached from fundamentals ~$378B

if you were to apply the same ratio to Databricks it would have to trade at 42 000 000 000 000 000 USD - enough to buy the entire US sovereign debt, the moon, all earth's minerals with plenty to spare. A completely rational market if you ask me.