Cerebras revives IPO plans fueled by AI boom

The group has gradually evolved its business model, transitioning from chip sales to a cloud services offering powered by its own infrastructure. This strategy is underpinned by major partnerships, most notably with OpenAI, under an agreement to provide up to 750 megawatts of computing capacity by 2028 in a deal valued at over $10bn. This commitment has since been expanded to over $20bn, including investment mechanisms allowing OpenAI to acquire equity in Cerebras.

Valued at $8.1bn following a $1.1bn funding round in September, the company seeks to position itself against rivals such as Nvidia and AMD by highlighting the speed of its processors for real-time processing. It also benefits from growth prospects through new partnerships, including with Oracle, and has attracted attention from high-profile investors, including Sam Altman. According to its CEO, Elon Musk had also considered an acquisition of the firm as early as 2018.