Silicon-based chip manufacturer Cerebras Systems is targeting an initial public offering.
The 2015 startup, which says it is building the “fastest AI infrastructure in the world,” filed on April 17 with the Securities and Exchange Commission to go public on the Nasdaq exchange.
The filing does not disclose the size of the offering or the share price. However, it is understood that the IPO is likely to go ahead soon, possibly as early as next month.
The stock will be listed under the ticker symbol CBRS, with Morgan Stanley, Citigroup, Barclays and UBS Investment Bank as lead underwriters. Mizuho and TD Cowen, meanwhile, will act as bookrunners.
The filing provides insight into the figures that prompted Cerebras’ decision. It showed that in 2025, the vendor recorded $510 million in revenue, representing 76% year-over-year growth. Net income was $237.8 million in 2025, as opposed to a net loss of $481.6 million in 2024.
This upward trajectory is being seen as vindication for the company’s decision to operate its chips in data centers rather than sell direct to companies. In February, Cerebras raised $1.1 billion in Series H funding at a valuation of about $23 billion. This followed a $1.1 billion Series G round in September.
Cerebras claims its Wafer-Scale Engine 3 is the world’s largest and fastest commercialized AI processor. According to Cerebras, it is nearly 60 times bigger than Nvidia’s B200 chip but uses a fraction of the power per unit compute, while delivering inference up to 15 times faster.
Earlier this year, Cerebras agreed to a deal to supply 750 megawatts of its wafer-scale systems to OpenAI, with the generative AI vendor saying it would use the compute for real-time responses for coding, inference, image generation and complex reasoning.
This year also saw a deal with AWS to use Cerebras chips in Amazon data centers.
However, this is not the first time Cerebras has eyed an IPO. It scrapped plans in October last year, without providing an explanation at the time,
