Systems brains has withdrawn its initial public offer (IPO) planned in the USA, immediately, according to a presentation made on Friday.
The company, which develops AI chips and competes with market actors established as NVIDIA, did not quote any specific reason for retirement.
He has requested the withdrawal of his registration statement in Form S-1 of the United States Stock Exchange and Securities Commission (SEC) after deciding not to pursue the detailed planned public offer in the presentation.
Form S-1, originally sent on September 30, 2024, had not been declared effective and values ​​under their terms were not sold.
The company has requested that all rates paid by the registration are accredited for future use as allowed under the rules of the SEC.
The brains also requested that the supplementary materials previously supplied to the SEC be returned or destroyed, with instructions for direct returns to their legal firm, Latham & Watkins.
In addition, brains has asked the SEC to issue a formal order confirming the withdrawal of the registration declaration as soon as possible. Copies of the order have been requested for both the company’s headquarters and the legal advisor.
The decision occurs shortly after the brains recently completed a financing round of $ 1.1 billion directed by Fidelity Management & Research and Date Management, which established its valuation at $ 8.1 billion.
Additional investors in the G series round included Tiger Global, Value Equity Partners and 1789 Capital.
The brain opi plans were previously delayed after a national security review of an investment of $ 335 million per G42, an AI and cloud company based in Abu Dhabi, he reported Reuters.
The withdrawal coincides with a greater activity of the US opi. UU. After a reduced volume period linked to the concerns of commercial policy.
Brain is based in Sunnyvale, California and designs hardware systems aimed at accelerating the training and inference of large -scale automatic learning models.
The company plans to assign the income of the G series round to advance the AI ​​processor technology, expand the manufacturing capacity of the United States and climb its data center infrastructure.
“The AI ​​chips manufacturer withdraws plans for the debut of the US stock market.” It was originally created and published by Verdict, a brand owned by Globaldata.
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(Tagstotranslate) Commission of Values ​​and Values ​​of US