A year after filing to IPO, still-private Cerebras Systems raises $1.1B

Cerebras Systems, a Silicon Valley-based AI hardware company and competitor to Nvidia, raised $1.1 billion in a Series G funding round that values the company at $8.1 billion. This latest round, co-led by Fidelity and Atreides Management with participation from Tiger Global and others, brings Cerebras’ total funding to nearly $2 billion since its 2015 founding. The company specializes in AI chips, hardware systems, and cloud services, and has experienced rapid growth driven by its AI inference services launched in August 2024, which enable AI models to generate outputs. To support this growth, Cerebras opened five new data centers in 2025 across the U.S., with plans for further expansion in Montreal and Europe. Originally, Cerebras had filed for an IPO in September 2024 but faced regulatory delays due to a $335 million investment from Abu Dhabi-based G42, triggering a review by the Committee on Foreign Investment in the United States (CFIUS).