Cerebras Systems' IPO Faces Uncertainty Amid National Security Review

Cerebras Systems may delay its IPO due to a national security review concerning a UAE firm’s minority stake. The Committee on Foreign Investment is assessing risks related to G42's investment. Pending clearance, Cerebras hopes to proceed, though plans remain tentative.

Cerebras Systems could potentially delay its much-anticipated initial public offering (IPO) due to a national security review by the U.S. of a minority investment made by UAE-based tech conglomerate G42, according to sources familiar with the situation.

The AI chipmaker, known for challenging industry giant Nvidia, had planned to launch the IPO roadshow next week but may now hold off. The Committee on Foreign Investment in the United States (CFIUS) is assessing G42's involvement, which Cerebras mentioned in a regulatory filing. The company hopes for a green light from CFIUS this year, but insiders note plans might change based on approval timelines.

A U.S. Treasury spokesperson reiterated the agency's commitment to national security, yet declined specific comments on Cerebras's IPO. Meanwhile, Cerebras and G42 remain silent on the issue, with all parties involved emphasizing confidentiality as the CFIUS review continues.

(With inputs from agencies.)