((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto)) by Echo Wang, Max A. Cherney and Krystal Hu
Cerebras Systems is likely to postpone its IPO, after facing delays related to the U.S. national security review of UAE-based technology conglomerate G42’s minority investment in the chipmaker. artificial intelligence, people familiar with the matter said Tuesday.
Cerebras, which competes with industry leader Nvidia NVDA.O in the lucrative artificial intelligence chip market, is likely to cancel the roadshow that was scheduled for early next week for its highly anticipated IPO , said the sources, who requested anonymity because the discussions are confidential.
Cerebras declined to comment. G42 did not immediately respond to requests for comment.
The Committee on Foreign Investment in the United States (CFIUS), which reviews foreign investments based on possible national security concerns, is currently looking into G42’s investment in Cerebras, as the company noted in a recent regulatory document.
Cerebras still expects CFIUS to greenlight the G42 transaction this year, the sources said. The company will seek an IPO as soon as it receives the necessary approval from CFIUS, the sources said, although they noted that plans could change depending on the timing of approval.
A spokesperson for the U.S. Treasury, which is in charge of CFIUS, declined to comment on Cerebras’ IPO, saying the agency “is committed to taking all necessary actions within its authority to safeguard national security of the United States”
