On October 4, 2025, Cerebras Systems, a U.S.-based AI chip manufacturer, revealed that it was scrapping its initial public offering (IPO) plan in the United States. This move came on the heels of the company securing a massive $1.1 billion in Series G funding, which propelled its post-money valuation to a staggering $8.1 billion.
The company made it clear that, at present, it has no intention of moving forward with the previously proposed offering. However, it stopped short of providing detailed explanations for this decision. Cerebras' CEO, Andrew Feldman, pointed out that the IPO prospectus from the previous year no longer accurately mirrors the current market landscape. Despite this setback, he emphasized that the company remains eager to go public at the earliest opportunity.
The withdrawal of the IPO plan coincided with the fallout from a U.S. government shutdown. Nevertheless, a spokesperson for Cerebras clarified that the government's temporary closure had no bearing on their choice to pull the plug on the IPO.
Looking ahead, Cerebras has outlined its plans for the newly acquired funds. The company intends to channel these resources into driving innovation in multiple areas, including AI processor design, packaging techniques, system architecture, and AI supercomputing. Additionally, it aims to bolster its manufacturing capabilities and expand its data center capacity within the United States.