Chipmaker Cerebras Says US Signs Off on UAE Tie Ahead of IPO

Cerebras Systems Inc. said it has resolved “all open issues” with the Committee on Foreign Investment in the US, a crucial step that may clear the chip startup’s path for its much-anticipated initial public offering.

Cerebras disclosed in September that it filed a voluntary notice to CFIUS about its relationship with Group 42 Holding Ltd., an Abu Dhabi artificial intelligence firm that provided more than 80% of the chipmaker’s revenue. G42 also planned to buy more than 22 million shares in Cerebras. The Sunnyvale, California-based company had said the arrangement no longer needed CFIUS review as Cerebras changed its agreement so that G42 is only entitled to purchase non-voting shares.