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AI chipmaker Cerebras withdraws IPO
Cerebras raised $1.1 billion in funding led by Fidelity and Atreides, valuing it at $8.1 billion, prompting withdrawal of IPO plans to focus on growth opportunities.
- On Friday, Sunnyvale, California-based Cerebras Systems filed paperwork to withdraw plans for an initial public offering.
- Last year, Cerebras filed for an IPO on the Nasdaq as it competed with Nvidia, but its listing was delayed by a U.S. national security review of a $335 million investment by G42.
- Earlier this week, Cerebras announced $1.2 billion raised and a $1.1 billion round Tuesday, valuing the company at $8.1 billion, with IPOX's Josef Schuster calling the pause unsurprising.
- Andrew Feldman, co-founder and CEO of Cerebras Systems, said the company still wanted to go public rather than continue raising venture capital and warned against letting opportunities lapse for lack of capital.
- Its withdrawal arrives as U.S. IPO activity has picked up in recent months, reversing an earlier slowdown and drawing strong investor demand, IPOX's Josef Schuster said.
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Cerebras backs away from IPO after $1.1B fundraising round
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Coverage Details
Total News Sources12
Leaning Left2Leaning Right1Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 29%
C 57%
14%
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