AI chip startup Cerebras files for IPO after AWS and OpenAI deals
Cerebras heads back to the public markets
Cerebras Systems, the AI chip startup led by CEO Andrew Feldman, has filed to go public after a year of major financing and a string of high-profile customer wins. Feldman has described the company’s hardware as “the fastest AI hardware for training and inference.”
The filing comes after Cerebras’ earlier attempt to list in 2024 was delayed by a federal review of an investment from Abu Dhabi-based G42 and later withdrawn. Since then, the company has raised aggressively, including a $1.1 billion Series G last year and a $1 billion Series H in February, which reportedly valued Cerebras at $23 billion.
Revenue growth and a profitable year
In its filing, Cerebras said it generated $510 million in revenue in 2025 and posted net income of $237.8 million. Excluding certain one-time items, the company reported a non-GAAP net loss of $75.7 million.
The startup’s public-market push follows recent commercial deals that have put it in closer competition with Nvidia in AI infrastructure. Cerebras announced an agreement with Amazon Web Services to deploy its chips in Amazon data centers, and it also struck a deal with OpenAI that was reportedly worth more than $10 billion.
In a recent interview with the Wall Street Journal, Feldman said, “Obviously, [Nvidia] didn’t want to lose the fast inference business at OpenAI, and we took that from them.”
Mid-May timing
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Cerebras has not disclosed how much it plans to raise in the IPO. A spokesperson said the offering is expected to take place in mid-May.
The filing adds another major AI infrastructure company to the IPO pipeline at a moment when demand for specialized chips remains intense and the battle for large model workloads is increasingly central to the sector.
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