Cerebras Systems, a rival of Nvidia, is preparing to refile for a U.S. IPO, targeting a Q2 2026 debut, after pulling its previous filing due to national security concerns and scrutiny over U.S. AI technology distribution. The company’s wafer-scale processor design offers high performance in handling AI models.

Cerebras’ IPO comeback revolves around its unique approach to AI semiconductor design, with a recent funding round valuing the company at $8 billion. The IPO plans faced delays due to national security reviews linked to its primary customer, G42, but now Cerebras has obtained CFIUS clearance and G42 is no longer listed as an investor.

While Nvidia remains dominant in the AI accelerator market, challengers like AMD, Intel, Qualcomm, and hyperscalers are vying for a piece of the growing market. Startups in China are also emerging to replace Nvidia domestically, while Europe’s cautionary tale with Graphcore being acquired by SoftBank emphasizes the competitive landscape.

Read more at Yahoo Finance: Controversial Nvidia rival may finally IPO