AI chip startup Cerebras Systems has withdrawn its plans for an IPO in the U.S., citing a recent fund raise. The company raised $1.1 billion in a funding round, valuing it at $8.1 billion. Despite this, CEO Andrew Feldman stated that Cerebras still intends to go public. The highly anticipated IPO was previously delayed due to a U.S. national security review. The decision to withdraw from the IPO is seen as a strategic move by the company and not reflective of the strong U.S. IPO sentiment. Cerebras Systems, based in Sunnyvale, California, specializes in high-performance AI chips and systems.

Read more at Yahoo Finance: AI chip firm Cerebras files to withdraw highly anticipated US listing