Nancy Pelosi, Cathie Wood, Nvidia-Backed Databricks Waits To Go Public: 'Dumb To IPO' In Election Year

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Nancy Pelosi, Cathie Wood, Nvidia-Backed Databricks Waits To Go Public: 'Dumb To IPO' In Election Year - Benzinga

Quick Summary:

What Happened: While the San Francisco-based company is experiencing growth and was recently valued at $62 billion, 2024 wasn’t the year to file an initial public offering, Databricks CEO and co-founder Ali Ghodsi said at the recent Axios AI Summit.

We wanted to get some stability — people are worried about interest rates, inflation,” he said, as reported by TechCrunch.“So we said ‘Look, it's dumb to IPO this year,’ so we're definitely going to wait.”

Ghodsi said the recent Series J round allowed some early employees the ability to cash out.