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“It’s dumb to IPO this year,” says Databricks CEO Ali Ghodsi, who has no intention of taking the company public in 2024. The data analytics firm just closed a massive $10 billion funding round, making it one of the most well-funded private companies globally.
During an interview with TechCrunch, Ghodsi explained why he believes now is not the right time for Databricks to go public. The CEO’s stance comes as the startup landscape has seen a surge in AI-related investments and valuations, leading some to speculate about a potential bubble.
Ghodsi attributes his skepticism of an IPO this year to the current market conditions. While data and AI will continue to play an increasingly important role in people’s lives every year, he believes that going public during the peak of the “AI bubble” would be unwise.
Source: techcrunch.com
