https://www.cnbc.com/2025/10/06/cerebras-ceo-says-company-still-intends-to-go-public.html

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Tech

Cerebras CEO explains IPO withdrawal, says AI chipmaker still intends
to go public

Published Mon, Oct 6 20251:07 PM EDTUpdated 4 Hours Ago
thumbnail
Jordan Novet@in/jordannovet/
WATCH LIVE
Key Points

  * Cerebras withdrew its filing for an IPO because it wants to come
    out with updated financial and strategy information, CEO Andrew
    Feldman said in a LinkedIn post.
  * Some of the company's new investors weren't mentioned in last
    year's filing, he said.

Cerebras CEO Andrew Feldman speaks to the media at the Colovore
office in Santa Clara, Calif., on March 12, 2024.
The Washington Post | Getty Images

Cerebras CEO Andrew Feldman admitted that his artificial intelligence
chipmaker made a mistake last week when it didn't immediately explain
its decision to withdraw its registration for an initial public
offering.

In a LinkedIn post late Sunday, Feldman wrote that the company still
wants to go public but has changed significantly since its initial
filing a year ago. Cerebras wants to revise parts of its prospectus
before selling shares to the public.

"Given that the business has improved in meaningful ways we decided
to withdraw so that we can re-file with updated financials, strategy
information including our approach to this the [sic] rapidly changing
AI landscape," Feldman wrote.

Days before filing its withdrawal notice on Friday, Cerebras
announced a $1.1 billion funding round at a valuation of $ 8.1
billion. Some of the investors in the new round, including Tiger
Global and 1789 Capital, where Donald Trump Jr. is a partner, weren't
named in the 2024 filing, he added.

"We made this call because it's in the best interest of our
investors, partners, and team -- and it will allow potential investors
to better understand the value of the business when we enter the
public markets," Feldman wrote, without providing a timeline for a
new filing.

In its prospectus, Cerebras characterized itself as a company that
produces large-scale chips for training and running AI models. This
year the company has added cloud business as it operates data centers
that can handle incoming requests from AI models.

What's remained is Cerebras' insistence that its hardware outperforms
graphics processing units, or GPUs, a market that Nvidia dominates
but where Advanced Micro Devices is trying to play catch-up. AMD said
Monday that OpenAI committed to deploying up to 6 gigawatts' worth of
the company's AI processors and could end up owning 10% of the
chipmaker.

WATCH: Cerebras CEO: Here's why our chips are a more efficient
alternative to Nvidia

Cerebras CEO: Here's why our chips are a more efficient alternative
to Nvidia
watch now
VIDEO6:4306:43
Cerebras CEO: Here's why our chips are a more efficient alternative
to Nvidia
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