Cerebras Raises Another $1 Bn, Hits $23 Bn Valuation as AI Chip Race Intensifies
The raise follows reports that Cerebras signed a more than $10 billion agreement to supply OpenAI with AI hardware.
AI chip startup Cerebras Systems Inc. has secured an additional $1 billion in funding just four months after closing a $1.1 billion round, the company announced.
The Series H round was led by Tiger Global and backed by AMD, Fidelity Management, Coatue, Altimeter and other existing investors, valuing the company at $23 billion.
The raise follows reports that Cerebras signed a more than $10 billion agreement to supply OpenAI with AI hardware. The company’s flagship processor, the WSE-3, packs 4 trillion transistors—about 19 times more than Nvidia’s Blackwell B200—and integrates 44GB of on-chip SRAM to reduce data transfer delays and improve performance.
Cerebras uses a wafer-scale design split into 900,000 cores, allowing the chip to bypass manufacturing defects and maintain reliability. The WSE-3 ships inside its water-cooled CS-3 system, delivering 125 petaflops of compute, with clusters scaling to 256 exaflops for training massive language models.
The company previously filed for an IPO in 2024 but withdrew the filing as revenue surged. Cerebras is now expected to refile, targeting a potential public debut as early as the second quarter.
