Cerebras Systems, a maker of artificial intelligence chips, is likely to go public in 2025, according to Chief Executive Andrew Feldman.
Background
The company had previously delayed its plans for an initial public offering (IPO) last year. However, during a recent company event in San Francisco, Feldman expressed optimism about the future, stating his hope for Cerebras to go public next year.
"We’re going to get there," Feldman said when asked about the IPO timeline. "We’re working very hard on it."
Recent Developments
Cerebras has announced that it obtained clearance from a U.S. committee to sell shares to Group 42 in the United Arab Emirates, marking a significant step towards an IPO. This move is part of efforts by:
- Mubadala Investment Co (Abu Dhabi’s state fund)
- Temasek Holdings Ltd (backed Group 42)
These entities are seeking more control over their stakes after being compelled into secondary sales due to U.S. regulations that require foreign investors with significant stakes to publicly disclose their holdings.
Future Steps
Feldman did not provide further details on the timing or specifics of the planned listing but emphasized the importance of navigating all necessary approvals and regulatory hurdles before proceeding with the IPO.
"I’m not going out there until I know we’ve got everything done," he stated during the event, where he also discussed the dual potential of AI to be used for good or ill, depending on its development and deployment.
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