Chipmaker Cerebras looks to make a splash in the AI sector

Chipmaker Cerebras has announced plans to raise $3.5 billion through an initial public offering, aiming to compete with rivals like NVIDIA by selling 28 million shares priced between $115 and $125 each. Founded in 2020, Cerebras launched its first systems in 2022. As demand for AI inference surges, speed has become a critical business factor, prompting the company to pivot its business model towards providing cloud services. Cerebras is collaborating with major firms such as OpenAI and Amazon Web Services, having signed a multi-year agreement with OpenAI valued at over $20 billion, underscoring the importance of innovation in AI.