Cerebras Systems, a leader in AI inference chips, has secured $1.1 billion in an oversubscribed Series G funding round, valuing the company at $8.1 billion post-money. The round was led by Fidelity Management & Research Company and Atreides Management, LP, with participation from Tiger Global, Valor Equity Partners, and 1789 Capital. Existing investors Altimeter, Alpha Wave, and Benchmark also took part, while Citi and Barclays Capital acted as joint placement agents.
The fresh capital will be used to expand Cerebras’ portfolio of AI processors and system designs, scale AI supercomputers, and boost U.S. manufacturing and data center capacity to meet rising demand.
“From our inception, we have been backed by the most knowledgeable investors in the industry. They have seen the historic opportunity that is AI and have chosen to invest in Cerebras,” said Andrew Feldman, co-founder and CEO of Cerebras Systems.
Cerebras claims its inference systems outperform NVIDIA GPUs by more than ten times on open-source models. Micah Hill-Smith, CEO of Artificial Analysis, added, “Since our founding, we have tested every AI inference provider across hundreds of models. Cerebras is consistently the fastest.”
The company’s technology is already being used by major organisations including Amazon Web Services (AWS), Meta, IBM, Mistral AI, Cognition, AlphaSense, Notion, GlaxoSmithKline, Mayo Clinic, and U.S. government agencies. It also processes over 5 million monthly requests on Hugging Face.
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