Cerebras, Backed by Flat Capital, Withdraws IPO Plans: Dagens industri

Cerebras, the American AI infrastructure company, has withdrawn its application for an initial public offering (IPO), Bloomberg News reports. The decision to abandon the stock market listing follows the company's initial announcement of its IPO plans over a year ago, although the application remained pending approval. Founded almost a decade ago, Cerebras focuses on accelerating and democratizing AI through its specialized processors and custom-built systems, integrating hardware, software, and expertise. An investor statement claims Cerebras's AI chips offer performance exceeding competitors' by more than 20 times. The withdrawal occurs after a recent $1.1 billion financing round that valued Cerebras at $8.1 billion. Flat Capital, the investment firm founded by Klarna's Sebastian Siemiatkowski, recently invested 47 million kronor in Cerebras. In a press release, outgoing Flat Capital CEO Hanna Andreen emphasized Cerebras's significant potential. Flat Capital is also undergoing a proposed transaction where Siemiatkowski intends to contribute a majority of his Klarna shares, contingent upon 90 percent approval at an upcoming general meeting on October 17.