AI Chip Startup Cerebras Systems Files for IPO, Challenges NVIDIA
TapTechNews October 1 news, US CNBC reported yesterday (September 30) that the AI chip startup Cerebras Systems filed a prospectus for its initial public offering (IPO) on Monday, planning to trade on the Nasdaq under the stock symbol CBRS, and this IPO is expected to raise a maximum of 800 million US dollars (TapTechNews note: currently about 5.609 billion yuan).
According to the documents disclosed by Cerebras, the relevant financial data of the company are as follows:
In the second quarter of 2024, the net loss was 50.9 million US dollars (currently about 357 million yuan), and the operating income was 69.8 million US dollars (currently about 489 million yuan).
In the second quarter of 2023, the net loss was 26.2 million US dollars (currently about 184 million yuan), and the operating income was 5.7 million US dollars (currently about 39.961 million yuan).
In the first half of 2024, it recorded a net loss of 66.6 million US dollars (currently about 467 million yuan) and a sales volume of 136.4 million US dollars (currently about 956 million yuan).
In the first half of 2023, the net loss was 77.8 million US dollars (currently about 545 million yuan), and the sales volume was 870 thousand US dollars (currently about 6.0993 million yuan);
In 2023, Cerebras reported a net loss of 127.2 million US dollars (currently about 892 million yuan) and a revenue of 78.7 million US dollars (currently about 552 million yuan).
Cerebras Company Profile
Cerebras is an American artificial intelligence (AI) company that focuses on developing dedicated chips and computing infrastructure for deep learning. The company is headquartered in California and has offices in multiple locations, including Toronto, Tokyo, and Bangalore, India.
Cerebras has developed the third-generation wafer-scale engine (WSE-3), which is a powerful chip specifically designed for AI training and inference. The company is committed to promoting the computing revolution in deep learning through its technology.
Challenging NVIDIA
Cerebras cited the test results of the benchmark analysis provider ArtificialAnalysis. Its chip is 20 times faster than NVIDIA's current-generation Hopper chip in AI inference and is cheaper, only 1/5 of NVIDIA's GPU.
Cerebras CEO Andrew Feldman said to the Financial Times in August: The way to defeat the 800-pound gorilla is to introduce a better product to the market. In my experience, a better product usually wins, and we have obtained meaningful customers from NVIDIA.
In addition to NVIDIA, Cerebras also lists AMD, Intel, Microsoft, and Google as competitors, as well as internally developed custom application-specific integrated circuits and various private companies.
Investors Favor AI Potential
With the rapid development of AI technology, Cerebras' dedicated chips have performed outstandingly in handling complex AI tasks, especially in areas that GPUs cannot handle such as long-sequence inference, allowing it to occupy a place in the industry.
The largest investor of Cerebras is the venture capital company FoundationCapital, followed by Benchmark and Eclipse Ventures.
Documents show that AlphaWave, Coatue, and Altimeter also each have at least 5% equity. Other investors include Sam Altman, th e CEO of OpenAI, and Andy Bechtolsheim, the co-founder of Sun Microsystems.
Cerebras disclosed the news of a threefold increase in its revenue when applying for an IPO, showing its strong performance in the field of AI training and inference. Such growth may attract more investors' attention and enhance the company's market value.
Multiple investors and capital companies have expressed strong interest in Cerebras' IPO, indicating the market's confidence in its future growth potential. Such attention may drive the success of the IPO.