AI chipmaker Cerebras Systems has filed for an initial public offering on the Nasdaq. The company plans to trade under the ticker symbol “CBRS,” according to the prospectus. Cerebras competes with Nvidia in the AI chip market, claiming its WSE-3 chip has more cores and memory than Nvidia’s popular H100.
In the first six months of 2024, Cerebras reported a net loss of $66.6 million on revenue of $136.4 million. The Sunnyvale, California-based company was founded in 2016 and was valued at over $4 billion in a funding round in 2021.
Source: CNBC