Cerebras Systems, a startup building cutting-edge AI hardware, has filed for an initial public offering. The company is riding high after raising over $2 billion in funding and partnering with Amazon Web Services and OpenAI.
CEO Andrew Feldman boasts of taking chunks from Nvidia's market share. In 2025, Cerebras clocked a revenue of $510 million, with a net income (excluding one-off items) of $237.8 million. The company is hoping to raise an unspecified amount in the IPO planned for mid-May.
The filing also details Cerebras' success stories, including its agreement with AWS and OpenAI's reported multi-billion dollar deal. Critics might worry about consolidation in tech, but Feldman seems unfazed.
Despite the valuation of $23 billion, Cerebras still faces challenges. Its non-GAAP net loss of $75.7 million is a reminder that even stars need time to shine.
