A Year After Filing To IPO, Still-Private Cerebras Systems Raises $1.1B
Cerebras Systems, a Silicon Valley AI hardware company, just made headlines again. A year after filing to IPO, still-private Cerebras Systems raises $1.1B in fresh funding, proving investor confidence remains strong despite its delayed public debut.
The $1.1 billion Series G round values Cerebras at $8.1 billion. Fidelity and Atreides Management co-led the round, with support from Tiger Global, Valor Equity Partners, and 1789 Capital. This marks one of the largest private AI hardware financings in 2025.
A Decade Of Building AI Infrastructure
Founded in 2015, Cerebras has steadily carved its place as a rival to Nvidia. The company builds specialized AI chips, hardware systems, and cloud services tailored for massive machine learning workloads.
With nearly $2 billion raised since inception, Cerebras has doubled its valuation since 2021, when a $250 million Series F round valued it at $4 billion.
Inference Cloud Sparks Growth
CEO and co-founder Andrew Feldman attributes much of the company’s momentum to its AI inference services, launched in August 2024. These services help businesses run AI models at scale, generating results faster and more efficiently.
“By mid-2024, we believed AI had reached a tipping point. Demand for inference exploded, so we reallocated resources, hired aggressively, and launched our inference cloud,” Feldman shared.
The overwhelming adoption of this service is now fueling Cerebras’ expansion.
Global Expansion With Fresh Capital
The $1.1B raise is already earmarked for scaling operations. Cerebras has opened five new U.S. data centers in 2025, in cities including Dallas, Oklahoma City, and Santa Clara. Additional centers are in the works for Montreal and key European hubs.
The funding will also support U.S.-based manufacturing, ensuring resilience and innovation in an increasingly competitive AI hardware market. Feldman hinted at upcoming technical advancements but kept details under wraps.
Why Investors Are Betting Big
For investors, the bet is clear: the AI infrastructure boom is just beginning. Companies building the backbone of AI training and inference are attracting unprecedented capital, and Cerebras’ ability to compete with Nvidia makes it a high-stakes player.
The company’s IPO timeline remains uncertain, but this round suggests that investors are willing to wait—confident that Cerebras can scale even bigger before hitting public markets.
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