Cerebras Systems, an AI chip firm, has filed for a US initial public offering (IPO), revealing a threefold jump in annual revenue in 2023. The company’s revenue reached $78.74 million in 2023, up from $24.62 million in 2022. Cerebras designs processors for AI training and inference and builds AI systems to power the processors and feed them data.
- Cerebras Systems recorded a threefold jump in annual revenue in 2023, reaching $78.74 million.
- The company’s revenue growth is attributed to the increasing adoption of AI applications like ChatGPT.
- Cerebras designs processors for AI training and inference and builds AI systems to power the processors and feed them data.
- The company recorded a net loss of $127.16 million in 2023, compared to a loss of $177.72 million in 2022.
- Cerebras has been backed by high-profile investors, including the Abu Dhabi Growth Fund and Coatue Management.
- The company will list on the Nasdaq Global Market under the symbol “CBRS”.