Cerebras, which makes chips that run artificial intelligence models, will file to go public on Friday, two people familiar with the matter told CNBC.
The people spoke on condition of anonymity to discuss internal matters.
Mr. Cerebras declined to comment.
After years of trying to sell the chips to businesses, Cerebras has started running them as a cloud service within its own data centers on behalf of its customers. Cerebras in January touted plans to provide up to 750 megawatts of computing power to OpenAI through 2028 in a deal worth more than $10 billion.
OpenAI has since expanded its relationship with Cerebra in a deal worth more than $20 billion and plans to obtain a warrant to buy Cerebra stock, one of the people said. Information previously reported on this arrangement.
Another big expansion could be in the works.
above oracleIn its March earnings call, CEO Clay Magouyrk said the database and cloud company is providing chips from Cerebras and other suppliers. But at the time, Oracle’s price list contained no mention of Cerebras.
Cerebras provides OpenAI with cloud-based computing power to operate its coding tools. Many companies build and deploy generative AI models. Nvidia’s Graphics processing unit, or GPU. advanced micro device It is also expanding into AI infrastructure.
Cerebras has won new business by emphasizing the high speeds that large-scale processors can provide, particularly in responding to queries from end users.
The company announced plans to hold an initial public offering (IPO) in 2024, but withdrew the filing last year to add information about its financial performance and strategy.
Following the relative drought that began in 2022, retail investors are eager for IPOs from large, growing technology companies. AI companies Anthropic and OpenAI are considering going public as early as this year.
Cerebras announced in February that it had raised $1 billion in a $23 billion funding round.
In September, just days before withdrawing its IPO documents, Cerebras announced a $1.1 billion funding round at a valuation of $8.1 billion.
Cerebras was founded in 2016 and is based in Sunnyvale, California. Andrew Feldman, the company’s co-founder and CEO, sold server startup SeaMicro to AMD in 2012 for $355 million.
Feldman said in 2018. tesla CEO Elon Musk tried to buy Cerebras. The company’s investors include OpenAI CEO Sam Altman.
—CNBC’s Seema Mody contributed to this report.
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