A Year After Filing to Ipo, still-private Cerebras systems raises $1.1b

Nvidia rival Cerebras Systems raised a caller information of backstage financing despite its previous scheme beryllium trading on nan nationalist marketplace by 2025.  

Silicon Valley-based Cerebras announced it raised a $1.1 cardinal Series G information connected Tuesday that valued nan AI hardware institution at $8.1 billion. The information was co-led by Fidelity and Atreides Management pinch information from Tiger Global, Valor Equity Partners, and 1789 Capital, among others.  

Cerebras, which was founded successful 2015 and offers chips, hardware systems and unreality services specifically designed for AI, has now raised almost $2 billion in its 10-year history. Its most recent prior financing was a $250 cardinal Series F information successful 2021 that was led by Alpha Wave Ventures and weighted nan institution astatine much than $4 billion.  

This latest backing round follows a twelvemonth of explosive growth, Andrew Feldman, Cerebras co-founder and CEO, told TechCrunch. Feldman said this maturation is tied to the company’s AI inference services, nan process of utilizing AI models to generate outputs, which were released in August 2024.  

“By [the 2nd quarter] of 2024, we came to judge that [we] had crossed a tipping constituent successful which nan AI that had been made was becoming useful, and that intends you would spot an detonation of request for inference,” Feldman said. “We reallocated immoderate resources, we hired much people, and successful August, we launched our conclusion cloud, and nan request has been overwhelming.” 

The institution has opened 5 caller information centers successful 2025 to location its AI hardware successful locations including Dallas, Oklahoma City, Oklahoma; and Santa Clara, California; among others locales, pinch much successful nan works in areas including Montreal and Europe.  

Expanding its information halfway footprint and U.S. manufacturing hubs are largely where this caller information of backing will beryllium put, successful summation to immoderate tech advances Feldman didn’t delve into. 

Raising this latest funding wasn’t likely Cerebras’ initial plan as nan company initially filed paperwork for an IPO exactly a twelvemonth ago, September 30, 2024. It ran into regulatory delays soon after.  

The company’s IPO was initially delayed because of a reappraisal by nan Committee connected Foreign Investment successful nan United States owed to a $335 cardinal finance from G42, an Abu Dhabi-based unreality and AI company. The IPO was further delayed in early 2025 due to unfilled positions successful CFIUS astatine nan opening of President Donald Trump’s term.  

Feldman said that nan institution still plans to IPO, but wouldn’t share specifics. He said that nan institution is pursuing a communal path for late-stage startups of raising a ample backing information from largely public investors before listing on nan nationalist marketplace itself.  

“We chose a mini number of leaders who would thief us, not conscionable successful this round, but successful nan future,” Feldman said. “Companies that are leaders successful late-stage private [fundraising], but predominantly do public. And you know, it’s our aspiration to beryllium a nationalist company.”