AI chipmaker Cerebras makes second attempt at Nasdaq flotation
Cerebras, a Silicon Falley-based chip manufacturer specialising in artificial intelligence (AI) technology, has filed for an initial public offering on the Nasdaq stock exchange. In 2024, the company had made an earlier attempt to go public, however, the filing was withdrawn at the time to allow for refinements in financial reporting and strategic planning.
The company’s recent performance shows strong growth. In 2025, Cerebras posted a net profit of $87.9 million (€74.6 million) on revenue of $510 million (€433 million) – an increase of almost 76% compared with the previous year. This success is partly attributable to a diversified customer base and an extensive range of cloud services.
In the past, G42, a Microsoft-backed company in the United Arab Emirates, accounted for a large share of Cerebras’ revenue. That contribution, however, dropped to 24% in 2025. The Mohamed bin Zayed University of Artificial Intelligence has instead emerged as the company’s largest customer, with a 62% share of revenue.
Cerebras’ strategic shift towards offering cloud services via its own data centres has proved successful. The company now competes with industry giants such as Amazon, Microsoft, Alphabet, Oracle and CoreWeave. This transition has attracted major investment from OpenAI, which has committed more than $20 billion (€16.9 billion) to secure access to Cerebras’ computing power through to 2030.
OpenAI’s involvement goes beyond financial support. The company received warrants to buy up to 33.4 million Cerebras shares and extended a $1 billion (€849 million) loan to support infrastructure development and services. This strategic partnership underlines the importance of Cerebras’ technology in enhancing OpenAI’s AI capabilities.
In addition, Cerebras has entered into partnerships with other prominent players in the tech industry. In March, the company announced an agreement with Amazon. This will enable cloud services based on Cerebras chips and give Amazon access to around $270 million (€229 million) worth of Cerebras shares.
Cerebras’ competitive advantage lies in its Wafer Scale Engine 3 chips, which claim superior speed and cost effectiveness compared with traditional GPUs used in AI applications. The company highlights the high performance of its large-scale processors, particularly for handling real-time user requests.
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