AI chipmaker Cerebras set to file for IPO as soon as today
Cerebras, a maker of chips that run artificial intelligence models, will go public on Friday, two people familiar with the matter told CNBC.
The people spoke on condition of anonymity to discuss internal matters.
Cerebras declined to comment.
Cerebras has tried to sell chips to companies for years, but has begun running the chips in its own data centers as a cloud service on behalf of its customers. In January, Cerebras announced plans to supply up to 750 megawatts of computing power to OpenAI by 2028 in a deal valued at more than $10 billion.
OpenAI has expanded its relationship with Cerebras in a deal valued at more than $20 billion and will receive warrants to buy Cerebras shares, one person said. Information Information about the regulation was previously given.
Another major expansion may be on the way.
On Oracle’s March earnings call, CEO Clay Magouyrk noted that the database and cloud company offers chips from Cerebras and other suppliers. However, at that time, Oracle’s price list did not include references to Cerebras.
Cerebras provides cloud-based computing power to OpenAI to run a coding tool. Many companies that develop and distribute generative artificial intelligence models Nvidia’s graphics processing units or GPUs. AMD It has also made progress in its artificial intelligence infrastructure.
Cerebras has achieved new business by emphasizing the high speed that its large-scale processors can offer, especially in responding to queries from end users.
The company announced plans to go public in 2024 but withdrew the paperwork last year to include information about financial performance and strategy.
Retail investors are thirsty for IPOs from large and growing tech companies following the relative drought that began in 2022. Artificial intelligence companies Anthropic and OpenAI are considering going public as soon as this year.
In September, days before withdrawing its IPO paperwork, Cerebras announced it had raised $1.1 billion in financing at an $8.1 billion valuation.
Cerebras was founded in 2016 and is headquartered in Sunnyvale, California. The startup’s co-founder and CEO, Andrew Feldman, sold his server startup SeaMicro to AMD for $355 million in 2012.
Feldman said in 2018: Tesla’s CEO Elon Musk tried to buy Cerebras. OpenAI CEO Sam Altman is among the company’s investors.
CNBC’s Seema Mody contributed to this report.
WRISTWATCH: OpenAI introduces first AI model running on Cerebras chips
