tech
AI chipmaker Cerebras files to go public after scrapping IPO plans last year
Cerebras said that it can expand its business with OpenAI over the coming years and that it gave OpenAI a warrant to purchase stock.
TL;DR
- Cerebras, an AI chip producer, has filed for an IPO on Nasdaq under the ticker 'CBRS'.
- The company reported a net income of $87.9 million on $510 million in revenue for 2025, with revenue growing nearly 76% from 2024.
- Cerebras has a major deal with OpenAI, potentially worth over $20 billion, involving computing power and a $1 billion loan.
- The company is shifting its business model to operate chips within its own data centers as a cloud service.
- Cerebras competes with major tech companies including Amazon, Microsoft, Alphabet, Oracle, and CoreWeave.
- A deal with Amazon in March involved a $270 million purchase of Cerebras' Class N stock.
- Cerebras claims its Wafer Scale Engine 3 chips offer higher speed and lower cost compared to GPUs.
- This filing follows a withdrawn IPO attempt in 2024, with previous funding rounds including a $1 billion raise in February at a $23 billion valuation.