Cerebras, a Silicon Valley-based AI hardware company, recently announced a significant milestone by raising $1.1 billion in a Series G funding round. This latest infusion of capital increases the company’s valuation to $8.1 billion. The round was co-led by Fidelity and Atreides Management, with contributions from Tiger Global, Valor Equity Partners, and 1789 Capital, among others.
Founded in 2015, Cerebras specializes in developing chips, hardware systems, and cloud services tailored for artificial intelligence. In its decade-long journey, the company has successfully raised nearly $2 billion. Its previous financing round, a $250 million Series F, occurred in 2021, valuing the company at over $4 billion.
According to Andrew Feldman, co-founder and CEO of Cerebras, the company has experienced remarkable growth, particularly driven by its AI inference services launched in August 2024. These services utilize AI models to generate outputs, and the demand has been unprecedented. To accommodate this growth, Cerebras has opened new data centers in multiple locations, including Dallas, Oklahoma City, and Santa Clara, with plans for further expansion in Montreal and Europe.
This latest funding round aims to enhance the company’s data center infrastructure and advance technological innovations. While an IPO was initially planned for early 2025, regulatory delays, including a review by the Committee on Foreign Investment in the United States, have postponed these plans. Despite these challenges, Feldman remains optimistic about Cerebras’ future on the public market, suggesting that the company is preparing for a transition by aligning with public investors.
Feldman stated, “We chose a small number of leaders who will support us not just in this round, but in future endeavors as well. Our aspiration is to become a public company.”
