AI chip startup Cerebras files for IPO

Cerebras Systems, a startup building what CEO Andrew Feldman describes as “the fastest AI hardware for training and inference,” has filed to go public.

The company previously filed for an initial public offering in 2024, but that was delayed due to a federal review of an investment from Abu Dhabi-based G42 and was ultimately withdrawn. Cerebras raised a $1.1 billion Series G last year, followed by a $1 billion Series H in February at a $23 billion valuation, according to the Wall Street Journal.

In recent months, the company announced an agreement with Amazon Web Services to use Cerebras chips in Amazon data centers, as well as a deal with OpenAI reportedly worth more than $10 billion.

In a recent interview with the WSJ, Feldman boasted, “Obviously, [Nvidia] didn’t want to lose the fast inference business at OpenAI, and we took that from them.”

Cerebras brought in $510 million in revenue in 2025, according to the filing, with a net income of $237.8 million (excluding certain one-time items, it was a non-GAAP net loss of $75.7 million).

A company has not disclosed how much it hopes to raise in the IPO. A spokesperson said the offering is planned for mid-May.