Artificial intelligence chipmaker Cerebras on Friday filed paperwork with the U.S. Securities and Exchange Commission withdrawing plans for an initial public offering.

The agency is operating at a low volume after the U.S. government shutdown that went into effect this week.

Last year Cerebras filed for an IPO as it went up against Nvidia to make the most capable processors for running generative AI models. Earlier this week, exactly one year after the prospectus became available, Cerebras announced that it had raised $1.2 billion at a $8.1 billion valuation.

At the time, Andrew Feldman, Cerebras’ co-founder and CEO, said in an interview that the company still wanted to go public, rather than continue to raise venture capital and stay private.

“I don’t think this is an indication of a preference for one or the other,” he said. “I think we have tremendous opportunities in front of us, and I think it’s good practice, when you have enormous opportunities, not to let them fall by the wayside for lack of capital.”

Cerebras still does want to go public as soon as possible, a spokesperson told CNBC on Friday.

Since filing for the IPO last year, Cerebras has shifted focus away from selling systems and more toward providing a cloud service for accepting incoming queries to models that use its chips underneath.

Feldman thought the original prospectus from last year was out of date, especially considering developments in AI, the spokesperson said.

The announcement about the withdrawal was published on the SEC’s online EDGAR regulatory filing system.

In a plan for a shutdown published in August, the SEC said EDGAR “is operated pursuant to a contract and thus will remain fully functional as long as funding for the contractor remains available through permitted means.”

The government shutdown did not factor into Cerebras’ decision, the spokesperson said.