G42 is no longer listed as an investor in Cerebras Systems, a crucial partner for the Abu Dhabi AI conglomerate. The Californian chipmaker is preparing to file for a US IPO as soon as this week, targeting a second-quarter 2026 listing, but its plans to go public have been delayed by its G42 ties, according to Reuters.
Cerebras, which makes a large-scale AI chip and counts G42 as its biggest customer, raised $1.1 billion at a valuation of $8.1 billion earlier this year, shortly before pulling its IPO prospectus amid scrutiny from US regulators. That fundraising doubled its value from 2021 — a year before OpenAI’s ChatGPT took the world by storm — when G42, through an affiliate, acquired a 1% stake in Cerebras for $40 million.
G42 and Cerebras did not immediately respond to a request for comment. The divestment is unlikely to diminish G42’s importance to Cerebras: The chipmaker is expanding its workforce in the UAE and plans to deploy up to 40 megawatts of computing power in Abu Dhabi, Semafor previously scooped.