AI chip startup Cerebras launches IPO, valuation surges to $26.6 billion

Huida's competitor and AI chip newcomer Cerebras has officially launched its IPO plan, with a tentative underwriting price of $115 to $125 per share. If calculated based on the issuance of 28 million shares, it is expected to raise $3.5 billion, and the company's valuation is $26.62 billion, indicating that the AI infrastructure boom continues to boost the evaluation of key AI chip suppliers.

Reuters and other foreign media reported that Cerebras was founded in 2015 and is headquartered in Sunnyvale, California, USA. It specializes in self-developed Wafer Scale Engine (WSE) chips, which can efficiently handle large-scale AI computing tasks and target the high-end AI computing market. Its customers include cloud computing giants such as OpenAI and Amazon AWS.

At the beginning of this year, Cerebras signed a cooperation agreement with OpenAI worth over 10 billion US dollars, providing up to 750MW of AI computing resources; AWS also announced in March the adoption of Cerebras WSE-3 wafer level AI chips to expand the computing power scale of data centers.

Lukas Muehlbuer, Associate Researcher at IPOX, believes that although Huida still maintains a dominant position in AI training and inference, chip manufacturers such as Cerebras still have niche space if they can provide clear performance or cost advantages.

In terms of finance, Cerebras' revenue for 2025 will reach $510 million, a significant increase from the previous year's $290 million, and it has successfully turned losses into profits, with a earnings per share of $1.38, a significant improvement from the previous year's loss of $9.90