AI chipmaker Cerebras filed to go public exactly a year ago. The company has yet to take the plunge, but has now bought itself more time to stay private.

Cerebras said Tuesday that it's raised $1.1 billion in new funding at a valuation of $8.1 billion as it tries to take on Nvidia , the world's most valuable company, in the booming market of artificial intelligence chips.

In its IPO prospectus, Cerebras calls itself a designer of chips for training and running AI models, and the company has prioritized operating a cloud-based service that AI models can use to handle incoming queries.

Shortly after Cerebras filed for its initial public offering last September, the company faced public criticism that it was too reliant on a single Middle Eastern customer, G42. Cerebras hit a

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