Cerebras Systems Raises $250 Million at over $4 Billion Valuation for AI Industry

Cerebras Systems is the AI chip start-up that created the largest computer chip. The company has been developing computer systems and services based on this chip. Among the customers are companies from oil, gas, pharmacy, and other industries.

The Series F round was led by Edge Capital via its Alpha Wave Ventures and Abu Dhabi Growth Fund. Along with them Altimeter Capital, Benchmark Capital, Coatue Management, Eclipse Ventures, Moore Strategic Ventures, and VY Capital participated. The money raised will help the company to expand to new regions and democratize AI.

Cerebras Systems, headquartered in California, was founded by Andrew Feldman (CEO), Jean-Philippe Fricker, Michael James, Sean Lie in 2016. The company began with a partnership with the US research laboratories, and then with commercial companies. As of now, customers are Argonne National Laboratory, Pittsburgh Supercomputing, EPCC, Tokyo Electron Devices, AstraZeneca, and others. “The Cerebras team and our extraordinary customers have achieved incredible technological breakthroughs that are transforming AI, making possible what was previously unimaginable.” Andrew Feldman says.

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