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Databricks CEO Ali Ghodsi has revealed the reasons behind his decision to put off the company’s initial public offering (IPO) until at least 2025. In an interview with Dan Primack during the Axios AI Summit, Ghodsi stated that this year was “an election year” and thus not ideal for a publicly-traded listing.
Ghodsi believes that the current market is in the midst of an “AI bubble,” which he sees as unsustainable. He emphasized that it doesn’t take a genius to recognize that companies with little or no innovation, products, or intellectual property are receiving valuations of hundreds of millions and even billions of dollars.
Source: techcrunch.com
