Cerebras Systems, a Silicon Valley startup, raised $1.1 billion with investors like 1789 Capital, led by Donald Trump Jr. The funding round, led by Fidelity Management & Research Co, valued the company at $8.1 billion. Cerebras plans to hold a public offering despite delays due to a U.S. national security review.

Investors like Tiger Global and Valor Equity Partners joined the funding round, led by Fidelity Management & Research Co and Atreides Management. Cerebras CEO Andrew Feldman mentioned that 1789 Capital’s involvement was led by Paul Abrahimzadeh, an investment banker and Citigroup veteran. The company also announced agreements to supply supercomputers to G42 and Aramco.

Cerebras had previously filed for an IPO on Nasdaq, delayed by U.S. national security review of a $335 million investment by G42. The company clarified that the investment had received clearance from the Trump administration. Cerebras is seeking export licenses from the Trump administration for Middle East deals.

Citigroup and Barclays Capital acted as joint placement agents for the transaction. Existing investors like Altimeter, Alphawave, and Benchmark also joined the funding round. Cerebras remains focused on its IPO plans, gathering capital from institutional investors for its AI computing chip.

Read more at Yahoo Finance: AI chip firm Cerebras raises $1.1 billion, adds Trump-linked 1789 Capital as investor