EVR-ISI Software: Daily Cloud Bytes (Databricks, CRM M&A, OAI, TYL A-Day & More)

Research evidence excerpt

EVR-ISI Software: Daily Cloud Bytes (Databricks, CRM M&A, OAI, TYL A-Day & More)

Technology | Software

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June 09, 2026

Kirk Materne, CFA EVR-ISI Software: Daily Cloud Bytes

212 497 0873 (Databricks, CRM M&A, OAI, TYL A-Day & kirk.materne@evercoreisi.com

Peter Levine More)

212 497 0833 EVR-ISI Software Daily Nugget: Good morning. In our view, the news

peter.levine@evercoreisi.com

that Databricks is looking to raise money at a $165-$175bn valuation

Peter Burkly

helps support the move higher in SNOW over the last couple of weeks. 212 497 0831

peter.burkly@evercoreisi.com While Databricks is growing faster than SNOW (we’ll get more details

Bill McNamara on the #’s at the analyst briefing on the 16th), we believe the private

212 446 5626 valuation speaks to the growing importance of data management

bill.mcnamara@evercoreisi.com platforms in an AI economy. SNOW remains our favorite

Charlie Zhou infra/scaffolding name heading into 2H. In other news, Salesforce

646-551-8513 announced the acquisition of m3ter, a provider of enterprise-grade

charlie.zhou@evercoreisi.com metering, rating, and consumption billing software, for an undisclosed

Vinod Srinivasaraghavan, CFA sum. According to the announcement, m3ter's capabilities will be

646-551-8831 integrated into Agentforce Revenue Management to support usage and

Vinod.Srinivas@evercoreisi.com outcome-based pricing models. We believe the acquisition strengthens

Salesforce's ability to support the evolving monetization requirements

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of AI-powered applications, where consumption-based pricing is

expected to become increasingly prevalent relative to traditional seat-

based licensing. Separately, OpenAI announced that it has

confidentially submitted a draft Form S-1 registration statement with the