Cerebras CEO says chipmaker’s ‘aspiration’ is to carry IPO in 2025

Cerebras CEO Andrew Feldman mentioned his hope is to take his corporate public in 2025 now that the chipmaker has got clearance from the U.S. govt to promote stocks to an entity within the United Arab Emirates.

“That’s our aspiration,” Feldman instructed journalists on Thursday on the corporate’s Supernova convention in San Francisco, after being requested if an IPO was once most likely this yr.

Cerebras, which makes processors for synthetic intelligence workloads, filed to head public in September however hasn’t equipped an replace at the anticipated dimension or timing of an providing. In March, the corporate mentioned it had got clearance from a U.S. committee to promote stocks to Group 42, a Microsoft-backed AI corporate based totally within the UAE.

That clearance got here from the Committee on Foreign Investment within the United States, or CFIUS, and marked a key step for Cerebras in its effort to head public. Cerebras competes with Nvidia, whose graphics processing gadgets (GPUs) are the trade’s selection for coaching and operating AI fashions. More than 85% of Cerebras’ earnings within the first part of 2024 got here from Group 42.

The tech IPO marketplace extensively has been in a drought since early 2022, when emerging inflation and better rates of interest driven buyers out of dangerous property. Cerebras gave the impression poised to be the primary notable pure-play AI IPO after its submitting, however then the got here the lengthen. CoreWeave, which gives AI infrastructure, debuted in March and has observed its marketplace worth soar about 65% since its IPO.

The IPO marketplace is appearing indicators of lifestyles, with buying and selling app eToro hitting the Nasdaq this week and virtual well being supplier Hinge Health scheduled to head out subsequent week.

The Middle East is changing into a extra important marketplace for AI building.

Nvidia CEO Jensen Huang was once in Riyadh, Saudi Arabia this week in conjunction with different tech leaders and President Donald Trump for the Saudi-U.S. Investment Forum. Nvidia mentioned on the tournament that it will promote greater than 18,000 of its newest AI chips to Saudi corporate Humain.

Group 42 may be reportedly on faucet to buy 100,000 GPUs a yr as a part of a larger settlement between the U.S. and UAE.

Feldman mentioned on the roundtable with journalists that it is “important to be among the big dogs” and mentioned, referring to the newest bulletins, “You’ve got half the story. I can’t share the other half.”

In addition to Microsoft, Cerebras sells to Meta and IBM. Feldman mentioned final yr that the corporate would have any other “hyperscaler” inside the first part of 2025.

“We’re close with another,” he mentioned on Thursday. “I think they haven’t been the quickest to respond.”

Earlier within the day, Cerebras introduced the facility to run an open-source style from Alibaba on its chips at what it says is a lower cost than what OpenAI’s GPT-4.1 style fees, and at a better pace.

— CNBC’s Ari Levy contributed to this document.

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