Cerebras Systems has successfully undergone a US government review concerning its links to the UAE’s G42, a spokesperson for the American AI firm confirmed.
The Committee on Foreign Investment in the United States (CFIUS) concluded its investigation, potentially clearing the way for the California-based company’s much-anticipated initial public offering.
CFIUS, responsible for assessing foreign investments for national security risks, had scrutinised G42’s planned $335 million investment in Cerebras. The Abu Dhabi-based AI firm, partly owned by Mubadala, was set to acquire a minority stake.
G42, an early backer of Cerebras, remains its largest client, accounting for 87% of its revenue in the first half of 2024.
Cerebras voluntarily disclosed the proposed investment in September, prompting the CFIUS review. The firms later argued the probe was unnecessary as G42 would only acquire non-voting shares, requesting to withdraw their notice.
A decision was initially expected by late 2024, but delays in appointing key officials in the new Trump administration prolonged the process.
Bloomberg first reported the review’s resolution, which followed Sheikh Tahnoon bin Zayed Al Nahyan’s meeting with US Treasury Secretary Scott Bessent in Washington to discuss semiconductor access. Sheikh Tahnoon chairs G42, while the Treasury oversees CFIUS.
Mohammed Soliman of the Middle East Institute hailed the outcome as a milestone that could ease future UAE tech deals. G42 already secured a $1.5 billion agreement with Microsoft in December after severing ties with Chinese tech firms.
Soliman suggests the CFIUS decision signals the Trump administration’s intent to balance restricting sensitive tech exports to China while fostering AI partnerships with key allies like the UAE.
