AXIOS December 17, 2024
“It’s peak AI bubble,” DataBricks’ CEO Ali Ghodsi told Dan Primack at Axios’ AI+ Summit in San Francisco.
Why it matters: Earlier on Tuesday, Databricks announced it had secured up to $10 billion in new funding — one of the largest investment rounds in Silicon Valley history — at a $62 billion valuation.
- “When you get billion dollar valuations on companies that have nothing, that’s a bubble,” Ghodsi said, referring to other companies.
Zoom in: When asked why he raised now, when he sees the market in a bubble, the CEO said that the decision came down to timing.
- “So six months ago, we were like, ‘Hey, it’s just dumb to IPO this year. Just wait, right?...
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