AI chip startup Cerebras files for IPO

Cerebras Systems, a pioneering startup renowned for developing what CEO Andrew Feldman calls "the fastest AI hardware for training and inference," is gearing up to enter the public market. This move comes on the heels of a previous IPO attempt in 2024, which was postponed due to a federal review surrounding a significant investment from G42, a firm based in Abu Dhabi. That initial filing was later retracted. In a remarkable fundraising effort, Cerebras secured $1.1 billion in a Series G round last year, achieving a valuation of $8.1 billion. Recently, the company has made headlines with strategic partnerships, including an agreement with Amazon Web Services to incorporate Cerebras chips into AWS data centers. Additionally, they have reportedly struck a deal with OpenAI valued at over $10 billion. In a candid discussion with the Wall Street Journal, Feldman highlighted the competitive landscape, stating, "Obviously, [Nvidia] didn’t want to lose the fast inference business at OpenAI, and we took that from them." The filing reveals that Cerebras generated $510 million in revenue in 2025, with a net income of $237.8 million, though it faced a non-GAAP net loss of $75.7 million when accounting for certain one-time expenses. While details regarding the amount Cerebras intends to raise through the IPO remain undisclosed, sources indicate that the public offering is tentatively scheduled for mid-May, marking a significant milestone for the company and the AI hardware sector.