Cerebras Systems (CBRS) is in discussions to raise $1B that would value the maker of chips for artificial intelligence at $22B, The Information reported.
In addition, Cerebras is also expected to go public later this year, the news outlet added, citing people familiar with the matter. The company is also expected to unveil a new major customer in the coming days, three people with knowledge told the news outlet.
Cerebras did not immediately respond to a request for comment from Seeking Alpha.
Last month, it was reported that Cerebras, which competes against semiconductor juggernauts such as Nvidia (NVDA) and AMD (AMD), was targeting an initial public offering for the second quarter of 2026.
Cerebras was recently named by Seeking Alpha’s analysts one of the more notable AI companies that could go public this year.
In addition to Nvidia and AMD, Cerebras competes with Groq. Nvidia announced in late December that it entered into a non-exclusive licensing agreement with Groq, worth some $20B, for its inference technology. As part of the agreement, Groq’s Founder Jonathan Ross, President Sunny Madra and other members of the Groq team will join Nvidia.
In October, Cerebras withdrew its plans to pursue an IPO shortly after completing a $1.1B funding round that propelled its valuation to $8.1B. Cerebras originally filed for a public offering in September 2024, but the effort stalled amid a federal review of its ties with the Abu Dhabi AI company G42.
Cerebras was founded in 2015 and is headquartered in Sunnyvale, Calif. Its WSE-3 chip and CS-3 system broke benchmark records in AI inference and training when they were released last year, the company reported. Its current customers include names such as Meta Platforms (META) and AstraZeneca (AZN).