(Bloomberg) — Cerebras Programs Inc., a startup that appears to problem Nvidia Corp. in synthetic intelligence computing, has filed for an preliminary public providing.
In a submitting with the US Securities and Change Fee Monday, Cerebras disclosed particulars of its funds and operations forward of an IPO, after submitting confidentially in August.
The Sunnyvale, California-based agency recorded a internet lack of $66.6 million on $136.4 million in income for the six months ended June 30, in contrast with the $77.8 million internet loss on $8.7 million in income within the year-earlier interval, the submitting exhibits.
Cerebras and the promoting shareholders gained’t disclose proposed phrases for the share sale, together with the corporate’s valuation in a list, till a later submitting. An inventory may increase as a lot as $1 billion at a $7 billion to $8 billion worth, Bloomberg Information has reported.
CS-3, Cerebras’ flagship system, is optimized to deal with AI computing workloads and may be clustered collectively to energy AI supercomputers, in response to the corporate’s web site. Founder and Chief Govt Officer Andrew Feldman mentioned his firm’s chips and the computing techniques geared up with them will upend the AI computing trade. The tens of billions of {dollars} poured into working AI fashions and producing responses have thus far benefited Nvidia’s graphics processing items, or GPUs, essentially the most.
Cerebras merchandise are utilized by companies, analysis establishments and governments to develop proprietary fashions and practice open-source fashions, the submitting exhibits.
The corporate raised $250 million in a sequence F financing spherical in 2021, valuing it at greater than $4 billion, in response to an announcement on the time. The spherical was led by Alpha Wave Ventures, Abu Dhabi Development Fund and G42. Cerebras’ buyers embody Altimeter Capital, Benchmark Capital and Coatue Administration, the assertion confirmed.
The providing is being led by Citigroup Inc. and Barclays Plc. The corporate plans for its shares to commerce on the Nasdaq World Market beneath the image CBRS.
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