Cerebras Systems Files Confidentially for US IPO
The company submitted a draft registration statement but did not provide further details.
Cerebras Systems Inc., a Silicon Valley startup focused on AI-optimized semiconductors and backed by the Abu Dhabi Growth Fund (ADG), has filed confidentially for an initial public offering (IPO) with the US Securities and Exchange Commission. The company submitted a draft registration statement but did not provide further details.[1]
Cerebras has chosen Citigroup Inc. as the lead bank for its IPO and aims for a listing in the second half (H2) of the year. The company may seek a valuation higher than the $4 billion achieved during its 2021 funding round, according to Bloomberg News.
The IPO follows a period of recovery in the US IPO market, which has raised nearly $30 billion this year—double the amount raised in the same period last year—though still below pre-pandemic levels.
Cerebras’s flagship product, the CS-3, is designed for AI computing workloads and can be used to build AI supercomputers. Its products are used by companies, research institutions, and governments for developing and training AI models.
In 2021, Cerebras raised $250 million in a Series F financing round, valuing the company at over $4 billion. The round was led by Alpha Wave Ventures, Abu Dhabi Growth Fund, and G42, with additional investment from Altimeter Capital, Benchmark Capital, and Coatue Management.