Andrew Feldman, co-founder of Cerebras System Inc., speaks at the Raise summit in Paris, France, on Tuesday, July 8, 2025. <\/p>\n
Nathan Laine | Bloomberg | Getty Images<\/p>\n
Artificial intelligence chipmaker Cerebras on Friday filed paperwork<\/a> with the U.S. Securities and Exchange Commission withdrawing plans for an initial public offering. <\/p>\n The agency is operating at a low volume after the U.S. government shutdown<\/a> that went into effect this week.<\/p>\n Last year Cerebras filed for an IPO as it went up against Nvidia<\/a> to make the most capable processors for running generative AI models. Earlier this week, exactly one year after the prospectus became available, Cerebras announced<\/a> that it had raised $1.2 billion at a $8.1 billion valuation. <\/p>\n At the time, Andrew Feldman, Cerebras’ co-founder and CEO, said in an interview that the company still wanted to go public, rather than continue to raise venture capital and stay private. <\/p>\n “I don’t think this is an indication of a preference for one or the other,” he said. “I think we have tremendous opportunities in front of us, and I think it’s good practice, when you have enormous opportunities, not to let them fall by the wayside for lack of capital.”<\/p>\n Cerebras still does want to go public as soon as possible, a spokesperson told CNBC on Friday.<\/p>\n Since filing for the IPO last year, Cerebras has shifted focus away from selling systems and more toward providing a cloud service for accepting incoming queries to models that use its chips underneath.<\/p>\n Feldman thought the original prospectus from last year was out of date, especially considering developments in AI, the spokesperson said.<\/p>\n The announcement about the withdrawal was published on the SEC’s online EDGAR regulatory filing system.<\/p>\n