Join 10k+ people to get notified about new posts, news and tips.
Do not worry we don't spam!
Post by : Rameen Ariff
AI chip startup Cerebras Systems, a competitor to Nvidia in the fast-growing AI chip industry, has officially withdrawn its plans for an initial public offering (IPO) in the United States, effective immediately.
The company’s decision comes despite a recent surge in US IPO activity, with investors showing strong interest in AI-related stocks and data center investments. Experts say this move is strategic rather than a reflection of market sentiment.
Earlier this week, Cerebras announced a major $1.1 billion funding round led by Fidelity Management & Research and Atreides Management, valuing the company at $8.1 billion. Other investors included Tiger Global, Valor Equity Partners, and 1789 Capital, where the son of former US President Donald Trump is a partner. CEO Andrew Feldman confirmed that the company still intends to pursue a public offering in the future.
Also Read :- Tragic Death of Form Four Student at Ipoh National Rugby 7s Tournament
Cerebras Systems, based in Sunnyvale, California, specializes in high-performance AI chips and systems that accelerate training and running of large AI models. Last year, the company’s IPO plans were delayed due to a US national security review of a $335 million investment by Abu Dhabi-based cloud computing and AI company G42.
Analysts say the IPO withdrawal is a company-specific decision and does not reflect the broader US IPO market, which remains strong amid growing enthusiasm for AI technology.
Conway Shines as New Zealand Edges Out West Indies in Napier
Devon Conway and Rachin Ravindra propel New Zealand to a five-wicket victory over West Indies, clinc
Ja'Marr Chase Faces One-Game Suspension Following Spitting Incident
Bengals' Ja'Marr Chase receives a one-game suspension after spitting on Jalen Ramsey; his appeal has
England Names 12-Man Squad for Opening Ashes Test in Perth
England reveals a 12-man squad for the first Ashes Test in Perth, featuring Shoaib Bashir and a pace
Roger Federer Inducted into Tennis Hall of Fame in Historic First Year
Tennis icon Roger Federer receives Hall of Fame recognition in his first year, alongside renowned co
Steve McClaren Steps Down as Jamaica’s Head Coach Following World Cup Qualifying Draw
After a crucial goalless draw with Curacao, Steve McClaren resigns as Jamaica's head coach, leaving
Daryl Mitchell Tops ICC ODI Rankings, Updates Released
Daryl Mitchell ascends to No.1 in the ICC ODI rankings, with boosts for players from New Zealand, In
