Cerebras CEO Andrew Feldman speaks to the media at the Colovore office in Santa Clara, Calif., on March 12, 2024.The Washington Post | Getty ImagesCerebras CEO Andrew Feldman admitted that his artificial intelligence chipmaker made a mistake last week when it didn't immediately explain its decision to withdraw its registration for an initial public offering.In a LinkedIn post late Sunday, Feldman wrote that the company still wants to go public but has changed significantly since its initial filing a year ago.
Cerebras wants to revise parts of its spectus before selling s to the public."Given that the has imved in meaningful ways we decided to withdraw so that we can re-file with d financials, strategy information including our apach to this the [sic] rapidly changing AI landscape," Feldman wrote.Days before filing its withdrawal notice on Friday, Cerebras announced a $1.1 billion funding round at a valuation of $ 8.1 billion.
Some of the investors in the new round, including Tiger Global and 1789 Capital, where Donald Trump Jr.
is a partner, weren't named in the 2024 filing, he added."We made this call because it's in the best interest of our investors, partners, and team — and it will allow potential investors to better understand the value of the when we enter the public ," Feldman wrote, without viding a timeline for a new filing.In its spectus, Cerebras characterized itself as a company that duces large-scale chips for training and running AI models.
This year the company has added cloud as it operates data centers that can handle incoming requests from AI models.What's remained is Cerebras' insistence that its hardware outperforms graphics cessing units, or GPUs, a market that Nvidia dominates but where Advanced Micro Devices is trying to play catch-up.
AMD said Monday that OpenAI committed to deploying up to 6 gigawatts' worth of the company's AI cessors and could end up owning 10% of the chipmaker.WATCH: Cerebras CEO: Here's why our chips are a more efficient alternative to Nvidiawatch now6:4306:43Cerebras CEO: Here's why our chips are a more efficient alternative to NvidiaSquawk on the Street