Silicon Valley-based AI hardware company Cerebras Systems has raised a massive $1.1B Series G, valuing the firm at $8.1B, despite having filed to go public a year ago.
The round was co-led by Fidelity and Atreides Management, with participation from Tiger Global, Valor Equity Partners, and 1789 Capital, among others. This brings Cerebras’ total funding to nearly $2B since its founding in 2015.
The company’s last raise, a $250M Series F in 2021, was led by Alpha Wave Ventures and valued the business at just over $4B — meaning Cerebras Systems has doubled its valuation in four years.
Driving growth through AI inference
CEO and co-founder Andrew Feldman attributed the surge in demand to the company’s AI inference services, launched in August 2024.
“By mid-2024, we saw a tipping point where AI became truly useful, and demand for inference exploded,” Feldman explained. Cerebras Systems reallocated resources, scaled hiring, and rolled out its inference cloud — which has since seen overwhelming uptake.
To meet this demand, Cerebras Systems has opened five new data centers in 2025, including in Dallas, Oklahoma City, and Santa Clara, with more planned for Montreal and Europe. Much of the new capital will be invested in expanding this data center footprint and U.S. manufacturing capacity.
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IPO delays but still on the horizon
Cerebras had initially filed for an IPO in September 2024, but regulatory reviews stalled the process. The U.S. Committee on Foreign Investment (CFIUS) flagged a $335M investment from Abu Dhabi-based G42, leading to delays, compounded in early 2025 by vacancies at CFIUS under the Trump administration.
Feldman confirmed that an IPO remains part of Cerebras’ roadmap, but the company chose to raise another private round from late-stage investors with strong public market experience as a stepping stone.
“We chose a small number of leaders who could support us now and when we go public. It’s our aspiration to be a public company,” Feldman said.
The bigger picture
Cerebras is positioning itself as a serious rival to Nvidia in AI-specialized chips and systems. With fresh backing, expanded infrastructure, and strong momentum in inference workloads, the company is doubling down on scaling ahead of its eventual IPO.
