Databricks CEO says SaaS isn't dead, but AI will soon make it irrelevant [TechCrunch]
ServiceNow, Inc. (NOW)
Last servicenow, inc. earnings: 4/29 04:10 pm
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Source: TechCrunch
Founder CEO Ali Ghodsi wanted to share these growth numbers because there's so much talk about how AI is going to kill SaaS business, he told TechCrunch “Everybody's like, ‘Oh, it's SaaS. What's going to happen to all these companies? What's AI going to do with all these companies? For us, it's just increasing the usage,” he says. To be sure, he also wants to deflect the SaaS label from Databricks, priced as it is by the private markets as an AI company. Databricks on Monday also officially closed on its massive, previously announced $5 billion raise at a $134 billion valuation , and nabbed a $2 billion loan facility as well. But the company is straddling both worlds. Databricks is still best-known as a cloud data warehouse provider. A data warehouse is where enterprises store massive amounts of data to analyze for business insights. Ghodsi called out, in particular, one AI product that's driving usage of its data warehouse: its LLM user interface named Genie. Genie is an e
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