Cerebras

• Cerebras, a leading AI chipmaker, announced plans to raise up to $3.5 billion through an initial public offering (IPO). • The fundraising effort signals strong market confidence in specialized AI chip manufacturers as enterprises scale artificial intelligence infrastructure deployments. • Going public positions Cerebras to compete aggressively with established semiconductor giants while investing in next-generation AI computing architecture.

• Cerebras Systems, developer of the wafer-size WSE-3 AI chip, filed to go public on April 17, 2026, amid accelerating revenue. • The company secured a $125 million revolving credit facility from Morgan Stanley, expandable to $850 million post-IPO, plus a $1 billion loan from OpenAI. • This IPO positions Cerebras to capitalize on surging demand for specialized AI hardware in US data centers and enterprises.

• OpenAI has agreed to spend more than $20 billion over the next three years on Cerebras-powered server capacity, marking a significant infrastructure investment for the AI company. • The arrangement could also grant OpenAI warrants for a minority stake in Cerebras, with the commitment roughly double the size of OpenAI's previously reported chipmaker agreement. • This massive compute deal reflects intensifying competition in AI infrastructure as companies race to secure specialized chip capacity for training and deploying large language models.