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AI chip startup Cerebras Systems, a competitor to Nvidia in the fast-growing AI chip industry, has officially withdrawn its plans for an initial public offering (IPO) in the United States, effective immediately.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.

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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.

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