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Databricks’ CEO, Ali Ghodsi, recently made a bold statement about going public. Speaking at the Axios AI Summit in San Francisco on Tuesday night, Ghodsi stated that it is “dumb” for the company to IPO this year. The reason behind his decision not to go public, as explained by him, lies in the current market conditions.
Ghodsi believes that the current AI bubble will eventually burst, and he wants Databricks to be well-positioned to continue its growth even after the bubble pops. He also stated that data and AI will continue to play a more important role in people’s lives each year, making him confident that his company is poised for long-term success.
In order to achieve this goal, Ghodsi has decided not to let the current market frenzy dictate Databricks’ trajectory. Instead, he wants to focus on continuing to develop innovative products and services that address real-world issues.
Source: techcrunch.com
