04:21 PM EDT, 10/08/2024 (MT Newswires) -- Nvidia ( NVDA ) rival Cerebras Systems is expected to delay its initial public offering amid US national-security scrutiny of investment in the company by UAE-based tech conglomerate G42, Reuters reported Tuesday, citing people familiar with the matter.

Cerebras probably will cancel a roadshow that was scheduled for early next week for its IPO, the report said.

The Committee on Foreign Investment in the US is looking into G42's preferred stock purchase agreement and hasn't approved the sale, Cerebras said Sept. 30 in a regulatory filing.

The US Treasury, which is in charge of the committee, said the agency is "committed to taking all necessary actions within its authority to safeguard US national security" and declined to comment on the Cerebras IPO, Reuters said.

Cerebras declined to comment, and G42 didn't respond to requests for comment, Reuters said.

Cerebras and G42 didn't respond immediately to requests for comments from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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