Cerebras' potential to compete with Nvidia could make it an attractive investment. The company is reportedly planning to create preferred shares for an impending F1 round at a steep discount compared to its last funding round. While the exact details of the IPO are not yet confirmed, the company is said to be seeking a valuation above the $4 billion it achieved after its most recent $250 million Series F funding round in 2021.
Key takeaways:
- AI chipmaker Cerebras Systems has reportedly filed confidential paperwork for an IPO on the Nasdaq stock exchange, according to an unnamed source cited by The Information.
- Cerebras Systems is a producer of specialized and powerful computer chips designed for AI and high-performance computing workloads, and is a competitor to Nvidia.
- The company's flagship product is the WSE-3 processor, which is expected to become available later this year and is said to be twice as powerful as its predecessor, the WSE-2.
- Cerebras Systems is targeting a listing in the second half of 2024 at the earliest, and will seek a valuation above the $4 billion figure it achieved following its most recent $250 million Series F funding round in 2021.