Cerebras CEO says company still intends to go public

Cerebras CEO Andrew Feldman admitted that the artificial intelligence chipser made a mistake last week when he did not immediately explain the decision to withdraw the registration for the first public offering.

One LinkedIn Post Feldman, late on Sunday, wrote that the company still wants to be open to the public, but has changed significantly since its first file a year ago. Cerebras wants to review the parts of the prospectus before selling stocks to the public.

“Considering that the enterprise has improved in a significant way, we decided to withdraw in order to re -file with updated financials, strategy information, including our approach [sic] He quickly changed the view of AI, Fel Feldman wrote.

Days before the presentation of the withdrawal notification on Friday, Cerebras announced a $ 1.1 billion financing tour with a value of $ 8.1 billion. He added that some investors in the new round, including Tiger Global and 1789 Capital, which Donald Trump Jr. Is not named in the 2024 file.

Feldman, without providing a timeline for a new filing, Feldman said, “We made this call because for the benefit of our investors, partners and team – for the benefit of our team – will allow potential investors to better understand the value of the business when we enter the public markets.”

In Prospectus, he described cerebras as a company that produces large -scale chips to run training and AI models. This year, the company added cloud business because it operates data centers that can fulfill the demands of AI models.

The remaining thing is that Cerebras’s hardware performs better than graphic processing units or GPUs. Nvidia dominated but where Advanced Micro Devices Trying to play the capture. AMD said on Monday that Openai has committed to using the value of 6 Gigawatt, one of the company’s AI processors, and could have 10% of the plant.

WRISTWATCH: Cerebras CEO: That’s why our chips are a more efficient alternative to Nvidia.