Cerebras raises $1.1B at $8.1B valuation, readies for IPO
Cerebras Systems, a Silicon Valley startup known for building the world's largest computer chip for AI, just raised $1.1 billion in fresh funding—pushing its value up to $8.1 billion.
Big names like Fidelity and Atreides led the round, with new backers including 1789 Capital (where Donald Trump Jr. is a partner), Tiger Global, and Valor Equity Partners.
Cerebras is gearing up for an IPO
This cash boost helps Cerebras gear up for an IPO after earlier delays tied to a US security review of foreign investment.
CEO Andrew Feldman says they're still aiming for the public markets soon.
The company's also expanding globally, working on deals to supply AI computers to Saudi Aramco (pending export approvals).
Citi and Barclays helped arrange this round alongside longtime investors like Altimeter and Benchmark.