Databricks Raises $4 Billion, TikTok Finds Its Shopping Stride

This is Bloomberg Tech: Databricks hauls in more than four billion dollars at a one hundred thirty four billion dollar valuation, we dig into the private AI boom versus public market jitters, the future of US–China tech with Under Secretary Jacob Helberg, and why TikTok’s live shopping is finally catching on in the US; markets are flat, the jobs print looks noisy but slower, and Bitcoin bounces even as it heads for a rare down year.

Databricks keeps tapping private money because investors love a clear AI story—organize your data and run large models on it—and the financials are clean, so even with IPO talk always “months away,” there’s no rush to go public.

Oracle’s data center exposure spooked folks—how big is the concern?

Oracle locked in roughly one hundred fifty billion dollars of leases over about two decades, which works out to tens of billions a year and raises fresh questions about the true cost of building AI infrastructure.

Should investors lean into AI infrastructure names now or step back?

This doesn’t look like a bubble blow‑off; investors are being choosy, rewarding strong stories and penalizing surprise spending, and we see this as part of a broader industrial revolution driven by AI.

What does “discerning” mean when private valuations soar—Databricks at one hundred thirty four billion, SpaceX eyeing the trillions—what proof do you need?

In public markets we saw big beats but mixed stock reactions because people listened past headlines, and while private data are murkier, new tools like private indexes and derivatives are widening access without forcing everyone to chase froth.

Is that healthy democratization or just more froth?

It’s healthy if it manages risk; froth is when everyone sprints the same way, and despite a long run we’re not yet parabolic.

Will earnings season be the reality check that supports current multiples and productivity hopes?

Last season, Nvidia’s forward P‑E dipped below Walmart because earnings swelled, and we expect leadership to widen beyond a handful of names as second‑ and third‑order beneficiaries—and even non‑tech sectors—show up in the data.

JetBlue is opening its first airport lounge ahead of the holiday rush; how does that fit the path to sustained profitability?

Joanna, how does this launch support your long‑term strategy?

Our Blue House lounge anchors our Jet Forward plan to lean into premium—pairing lounges with a new domestic first‑class, a premier card, and Even More Space—to give travelers paid upgrades they want through 2026.

Without a huge base of business travelers, can loyalty and premium still drive profits?

We skew leisure but attract business flyers because of the product, and the goal is simple: reward people who love JetBlue with calm spaces and meaningful loyalty perks so they keep coming back.

Mint has been your flagship premium play—how’s it performing and what’s next?

Mint has generated strong revenue for years, and we now offer a full spectrum—from free Wi‑Fi and great legroom to lounges and transatlantic Mint—with domestic first‑class broadening those choices.

Holiday travel is packed after some recent hiccups; what does demand look like?

After a tough 2025 with macro headwinds and the shutdown, holiday bookings look solid, and our aim is to break even on operating margin next year and regain profitability in 2026 with better reliability, strong NPS, premium upsell, and cost discipline.

Did the shutdown cause material revenue loss?

We haven’t quantified it, Q4 remains on track, but the shutdown hurt, and we need controllers and TSA treated as essential given how vital air travel is to daily life.

Are you targeting new customers or mainly upselling loyal ones?

Both—we’re meeting existing demand for first class and staying competitive as the industry shifts premium because that segment holds up well.

With big carriers dominating, how do you compete without consolidation?

It’s a challenge when four airlines control most domestic seats, so we push for fair access to gates and scale while executing Jet Forward, even as slot decisions like Heathrow favor incumbents.

Will partnerships, like with United, be your growth template?

We have fifty partners and a new Blue Sky partnership with United to expand loyalty utility and reach, including interline bookings in Q1; it helps materially, while consolidation sits on the back burner as we focus on 2026 payoffs.

On the recent close call with a US Air Force jet, what can you share?

Our pilot followed training, reported it, and worked within layered safety nets; we await the investigation and hope it’s never repeated.

Ford’s Jim Farley says resilience is showing up as Ford takes a nineteen and a half billion dollar EV charge; is the EV revolution stalling or just shifting?

Consumers aren’t ready to go fully electric across the board, cars launched too pricey with thin charging support, and the EU’s 2035 ambition was always a reach and is now being softened.

That goal effectively banned combustion engines, right?

It aimed for a one hundred percent emissions cut with some carve‑outs, but even with tweaks it remains a heavy lift.

And China’s low‑cost EVs change the game.

China sprinted ahead on tech and price, but other regions will resist importing deflation that hollows out jobs, so expect tariffs and incentives that reward local EV production.

Markets are digesting a higher unemployment rate and slower payrolls, with mega‑caps under pressure; are AI layoffs a factor and can AI help fill leadership gaps?

AI is reshaping work, but the jobless uptick looks temporary after a tight policy period; deal flow picked up in Q3 and should drive leadership changes and hiring.

Is the executive bench deep enough for PE‑backed software firms as transitions accelerate?

Executive demand is the tightest we’ve seen as many of thirteen thousand PE assets eye exits, which adds pressure on leadership changes over the next year or two.

Will leaders flood the market, and do they have the AI skills modern roles need?

More candidates will surface, but the market stays tight into 2026 and 2027, and AI helps by mapping the full talent universe—we indexed seven hundred thousand software executives—to match the best fit, not just the familiar.

Under Secretary Jacob Helberg is here as the US backs a seven point four billion dollar Tennessee smelter; how does that fit your AI supply chain push?

Our economic security plan rests on rebalancing trade, stabilizing conflicts, reindustrializing America, and securing supply chains, and the Korea Zinc deal shows a whole‑of‑government approach delivering tangible progress.

You’re mixing public‑private deals with stakes in non‑US firms; how do you decide what fits?

Pax Silica brings allies together to co‑invest in fabs, data centers, and refining because economic security is national security, and we’ll leverage vehicles like the Development Finance Corporation and the Department of War alongside private capital.

What do you say to critics of taking stakes, like four hundred million dollars for fifteen percent of MP Materials?

It’s about securing critical minerals so defense has reliable supplies in peace and wartime, which also spills over to commercial strength.

Will more countries join the effort beyond the inaugural summit?

We expect additions in the first half of next year, including talks with India, and we’ll prioritize partners that bring companies able to solve specific supply constraints.

Europe’s role is in focus, from rare earth licenses to broader alignment—are ties improving?

Europe faces a choice between decline and renewal, and we’re encouraged by a growing economic security consensus, the G7’s focus on global imbalances, and deeper work with countries like the Netherlands.

Some in Europe saw your strategy as a rebuke that touched culture and borders—how do you respond?

It’s a diagnosis urging secure borders, abundant energy, and fair trade; while we think Europe overregulates cutting‑edge tech, we see real convergence on supply chains and want to build on that.

Given US reliance on Chinese rare earths, what should the US–China relationship look like?

We seek a stable, constructive relationship while putting America first, and we plan to win the AI race through world‑class innovation at home and broad diffusion by exporting the American stack.

Talking Tech: President Donald Trump sues the BBC for ten billion dollars over a January 6 clip, PayPal applies to become a US bank, and Nasdaq wants to trade nearly around the clock; Instagram just launched its first TV app for Reels—any surprises?

The timing is quick but expected, starting on Amazon Fire TV before expanding to other smart TV platforms.

And TikTok’s live shopping seems to be gaining ground in the US—what’s changed?

TikTok is showing traction where others stalled, from small shops to a Skims holiday special, likely because shopping blends seamlessly with entertainment in that feed.

Did regulatory uncertainty slow them down?

They pushed ahead despite the cloud, and with repeated deadline extensions a ban looks unlikely, so they’re reaping the benefits now.

Snoop and Kim mixing cocktails on TikTok says it all; that’s it for Bloomberg Tech—find the podcast on the terminal, Apple, Spotify, and iHeart, and follow along on our socials.