Cerebras Systems Raises $1.1 Billion in Series G Funding, Valued at $8.1 Billion
Key Points
- Cerebras Systems raised $1.1 billion in a Series G round.
- The financing values the company at $8.1 billion.
- Key investors include Fidelity, Atreides Management, Tiger Global, Valor Equity Partners and 1789 Capital.
- Funds will be used to expand data‑center capacity and U.S. manufacturing hubs.
- Cerebras focuses on AI inference services and cloud offerings.
- An earlier IPO plan for 2025 was delayed due to CFIUS review and staffing issues.
- CEO Andrew Feldman says the company still intends to go public in the future.
Cerebras Systems, the AI‑hardware startup founded in 2015, announced a $1.1 billion Series G round that values the company at $8.1 billion. The financing, co‑led by Fidelity and Atreides Management with participation from Tiger Global, Valor Equity Partners and 1789 Capital, follows a $250 million Series F round in 2021. CEO and co‑founder Andrew Feldman said the round will fund new data‑center expansions, U.S. manufacturing hubs and continued technology development. Despite an earlier plan to go public by 2025 that was delayed by regulatory review, Cerebras remains focused on scaling its AI inference services and cloud offering.
Funding Round Details
Cerebras Systems disclosed a $1.1 billion Series G financing that lifts its valuation to $8.1 billion. The round was co‑led by Fidelity and Atreides Management, with additional commitments from Tiger Global, Valor Equity Partners, 1789 Capital and other investors. This brings the company’s total capital raised over a decade to nearly $2 billion, adding to a prior $250 million Series F round in 2021 that valued the firm at more than $4 billion.
Growth Strategy and Market Position
Founded in 2015, Cerebras builds chips, hardware systems and cloud services specifically for artificial‑intelligence workloads. CEO Andrew Feldman highlighted that the company’s recent surge in demand is tied to its AI inference services, which enable customers to generate outputs from trained models. He noted that by the second quarter of 2024 the firm believed it had crossed a “tipping point,” prompting an expansion of resources, hiring and the launch of an inference cloud in August 2024.
Infrastructure Expansion
The new capital will support the opening of additional data‑center locations and the establishment of U.S. manufacturing hubs. Cerebras already operates five data centers in locations such as Dallas, Oklahoma City and Santa Clara, with plans to add sites in Montreal and Europe. These facilities are intended to house the company’s AI hardware and support its growing cloud services.
IPO Plans and Regulatory Hurdles
Although Cerebras filed paperwork for an initial public offering a year ago with a target of 2025, the process encountered delays. A review by the Committee on Foreign Investment in the United States (CFIUS) was triggered by a $335 million investment from Abu Dhabi‑based G42, and further regulatory staffing issues prolonged the timeline. Feldman confirmed the company still intends to go public, but emphasized that the current fundraising round aligns with a common late‑stage startup strategy of securing substantial private capital before a future listing.
Outlook
With the infusion of $1.1 billion, Cerebras aims to solidify its position as a leading AI‑hardware provider, expand its physical footprint, and continue innovating in inference services. The company’s growth trajectory reflects strong investor confidence and a market appetite for specialized AI infrastructure solutions.