AI chipmaker Cerebras files for IPO to take on Nvidia
Artificial intelligence chip startup Cerebras Systems on Monday filed its prospectus for an initial public offering, with plans to trade under the ticker symbol "CBRS" on the Nasdaq.
Cerebras competes with Nvidia , whose graphics processing units are the industry's choice for training and running AI models. Cerebras says on its website that its WSE-3 chip comes with more cores and memory than Nvidia's popular H100. It's also a physically larger chip. In addition to selling chips, Cerebras offers cloud-based services that rely on its own computing clusters.
Cerebras had a net loss of $66.6 million in the first six months of 2024 on $136.4 million in sales, according to the filing. For the fist six months of 2023, the company had a net loss of $77.8 million and $8.7 million in sales.
The company reported a net loss of $50.9 million on $69.8 million in revenue in the second quarter, compared with a $26.2 million loss and $5.7 million in revenue in the same period a year earlier.
