Feb 4 (Reuters) – AI chipmaker Cerebras Systems said on Wednesday it raised $1 billion in a late-stage funding round that valued it \u200bat $23 billion, nearly tripling its valuation just over four months after \u200cits previous financing.<\/p>\n
The round was led by Tiger Global. Other investors included Benchmark, Coatue and \u200cDonald Trump Jr.-backed 1789 Capital.<\/p>\n
AI-linked companies have continued to draw billions in private financing as corporations and governments race to develop data centers for supporting the still-nascent technology.<\/p>\n
The race has made the chips required for computing power in these \u2060data centers a prized \u200ccommodity, fueling rival Nvidia’s meteoric rise to the most valuable company in the world.<\/p>\n
The fundraising marks Cerebras’ second billion-dollar round \u200dsince September, when it was valued at $8.1 billion, reflecting the investor allure for a company that could grow to become a key player in the AI-chip supply \u200bchain alongside Nvidia and AMD, which also participated in the round.<\/p>\n
It comes \u200cat a time when key AI players are looking to diversify their chip supplies.<\/p>\n
Reuters reported on Monday that OpenAI was seeking alternatives to Nvidia for AI inference chips, including Cerebras, AMD, and Groq.<\/p>\n
Amid OpenAI’s reservations, Nvidia approached companies working on SRAM-heavy chips, including Cerebras and Groq, about a potential \u2060acquisition. Cerebras declined and struck a commercial deal \u200bwith OpenAI, which was announced last month.<\/p>\n
The \u200bround is also Cerebras’ first since it withdrew its U.S. IPO filing in October, underscoring a broader trend of companies staying \u200dprivate for longer \u2060with abundant capital available outside of public markets.<\/p>\n
Sunnyvale, California-based Cerebras is known for its wafer-scale engine chips, designed to speed up the training \u2060and inference of large AI models and compete with products from Nvidia and other \u200cAI chipmakers.<\/p>\n
(Reporting by Ateev Bhandari and Manya Saini in Bengaluru; Editing \u200cby Tasim Zahid and Alan Barona)<\/p>\n","protected":false},"excerpt":{"rendered":"Feb 4 (Reuters) – AI chipmaker Cerebras Systems said on Wednesday it raised $1 billion in a late-stage…\n","protected":false},"author":2,"featured_media":267570,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[365,363,364,152178,8558,111,139,1042,69,145,137470],"class_list":{"0":"post-267569","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-cerebras-systems","12":"tag-data-centers","13":"tag-new-zealand","14":"tag-newzealand","15":"tag-nvidia","16":"tag-nz","17":"tag-technology","18":"tag-tiger-global"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/267569","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=267569"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/267569\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/267570"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=267569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=267569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=267569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}