The initial public offering (IPO) for AI chip manufacturer Cerebras Systems has encountered another delay as the review for national security reasons continues to stall.
Cerebras, which had submitted its IPO intentions in September 2024, had anticipated a smoother review process under the Trump administration, according to Reuters. However, this expectation has not been realized.
The ongoing issue is partly due to unfilled positions within the White House, notably the role of assistant Treasury secretary for investment security. This position is responsible for overseeing the Committee on Foreign Investment in the United States, and its vacancy means the department handling such reviews lacks necessary leadership, as reported by Reuters.
The IPO was initially subjected to a national security review because of a $335 million investment from G42, an Abu Dhabi-based AI holding company, which has past affiliations with Chinese technology company Huawei.
Cerebras Systems has opted not to comment on the situation.
