Cerebras Systems IPO Delayed Again

Cerebras Systems IPO Faces Further Delays

The initial public offering of AI chipmaking firm Cerebras Systems is experiencing additional delays. This is attributed to an ongoing and protracted national security review of the listing.

National Security Review Stalls

Cerebras initially submitted its IPO filing in September 2024. The company anticipated a smoother review process with the transition to the incoming Trump administration, as reported by Reuters.

However, this expectation has not materialized. Key positions within the government remain unfilled, hindering the review process.

Key Vacancies Impacting Review

Specifically, the assistant Treasury secretary for investment security position remains vacant. This role is crucial as it oversees the Committee on Foreign Investment in the United States (CFIUS).

Consequently, the department responsible for conducting these reviews is currently operating with incomplete staffing, according to Reuters.

Investment from G42 Triggered Review

The IPO was flagged for national security concerns due to a $335 million investment received by Cerebras. This investment originated from G42, an AI holding company based in Abu Dhabi.

G42 has established prior connections with Chinese technology company Huawei, further prompting the scrutiny.

Company Response

Cerebras Systems has not issued any public statement regarding the delay. The company declined to provide comment when contacted.

The prolonged review underscores the increasing governmental oversight of investments in the AI semiconductor industry.