Cerebras Systems, the artificial intelligence semiconductor company that competes with Nvidia (NASDAQ:NVDA) and others, announced on Tuesday that it has raised $1.1B in a new funding round.
The $1.1B Series G funding round values the Sunnyvale, Calif.-based Cerebras at $8.1B and was led by Fidelity Management and Atreides Management. Other investors include Tiger Global, Valor Equity Partners, and 1789 Capital. Also participating in the round were existing investors Altimeter, Alpha Wave, and Benchmark.
“From our inception, we have been backed by the most knowledgeable investors in the industry. They have seen the historic opportunity that is AI and have chosen to invest in Cerebras,” said Andrew Feldman, co-founder and CEO, Cerebras in a statement. “We are proud to expand our consortium of best-in-world investors.”
Cerebras, which had filed to go public last year, says its inference solutions are 20 times faster than Nvidia’s GPUs on open-source and closed source models, including Alibaba’s QWEN3 235B, Llama 3.3 70B, Llama 4 Maverick and OpenAI’s OSS-GPT-120B.
The company did not provide an update on its initial public offering amid the new funding.
“Since our founding, we have tested every AI inference provider across hundreds of models. Cerebras is consistently the fastest,” said Micah Hill-Smith, CEO of leading benchmarking firm Artificial Analysis.
Cerebras last raised funding in 2021, as a $250M series F financing valued it at more than $4B.