Cerebras Systems, a maker of artificial intelligence chips, has secretly filed for an initial public offering (IPO) in the United States. The company aims to compete with Nvidia, a major player in the industry.
As Cerebras prepares to attract investors, it does so during a high excitement for AI. This enthusiasm benefits companies that provide essential infrastructure for training chatbots.
However, the firm may face scrutiny regarding Nvidia’s strong market position. Nvidia’s dominance has propelled it into the $1 trillion club and even briefly made it the world’s most valuable company, surpassing Microsoft.
The upcoming IPO will also test the market’s interest in AI-related stocks. Recently, concerns about excessive AI spending have led some investors to shift their focus from tech stocks to value stocks.
Cerebras has received support from prominent investors like the Abu Dhabi Growth Fund and Coatue Management.
Filing for an IPO confidentially allows companies to keep their financial details private for as long as possible.
