(Updates to note that Cerebras Systems declined to comment in the last paragraph.)
Cerebras Systems expected initial public offering has been further delayed as it awaits the White House key appointments on the US Committee on Foreign Investment to conclude a national security review, Reuters reported Tuesday, citing five unnamed people familiar with the matter.
The Committee on Foreign Investment in the US, which reviews foreign investments in American companies, will evaluate a $335 million investment in Cerebras by Abu Dhabi-based cloud computing and artificial intelligence company G42, the report added.
Cerebras has risks in going public without clarity on G42's capital infusion, two of the sources told Reuters.
G42 will own a 5% stake in Cerebras if its investment gets approved, the news outlet said.
Cerebras Systems filed a registration statement in September with the US Securities and Exchange Commission regarding a proposed initial public offering to trade on the Nasdaq under the ticker symbol "CBRS."
G42 and the US Treasury Department did not immediately respond to MT Newswires' requests for comment.
Cerebras Systems declined MT Newswires' request for comment.
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