Cerebras Systems, which designs and produces semiconductors and supercomputers, and provides AI services, filed on Monday with the SEC to raise up to an estimated $800 million in an initial public offering.
The company designs processors meant for AI training uses, such as its WSE-3, which it claims to be the largest chip ever sold, at the size of a full silicon wafer. It also offers an array of software and hardware solutions designed to be compatible with its semiconductors. Its primary hardware offering is its supercomputers, which customers can purchase for on-premise deployment, or utilize via Cerebras' cloud services, or through the company's partners. Cerebras claims its systems result in faster training time-to-solution timelines, and that its offerings can help organizations with less in-house AI and computing power.
The Sunnyvale, CA-based company was founded in 2016 and plans to list on the Nasdaq under the symbol CBRS. Cerebras Systems filed confidentially on June 17, 2024. Citi, Barclays, UBS Investment Bank, Wells Fargo Securities, Mizuho Securities, and TD Cowen are the joint bookrunners on the deal. No pricing terms were disclosed.
