AI firm Cerebras Systems files for proposed Nasdaq IPO

AI company Cerebras Systems has on Friday filed for a proposed Nasdaq IPO.

Cerebras Systems builds the world's largest computer chips, specifically designed to accelerate AI training and inference. They are best known for their Wafer-Scale Engine, a massive single processor that overcomes traditional performance bottlenecks by keeping data and memory on a single piece of silicon. The company builds computer systems for complex AI deep learning applications.

The company’s revenue increased from $24.6 million in 2022 to $78.7 million in 2023 and to $290.3 million in 2024, representing a more than tenfold increase over three years. The company’s revenue increased to $510.0 million in 2025, representing year-over-year growth of 76%. The company earned net income of $237.8 million in 2025 and incurred a net loss of $481.6 million in 2024. The company incurred a non-GAAP net loss of $75.7 million in 2025 and $21.8 million in 2024, after excluding the impact of stock-based compensation expense and change in fair value (extinguishment) of forward contract liability from its GAAP net income (loss).

Morgan Stanley, Citigroup, Barclays, and UBS will serve as lead underwriters.

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