Nvidia Rival Cerebras Systems has raised a new round of private funding despite trading in the open market by 2025.
Silicon Valley-based Celebras announced on Tuesday it raised a $1.1 billion Series G round valued at $8.1 billion. The round was co-led by Fidelity and Atlaid Management, with participation from Tiger Global, Valor Equity Partners and 1789 capitals and more.
Founded in 2015 and providing chips, hardware systems and cloud services designed specifically for AI, Cerebras has raised nearly $2 billion over its 10-year history. Recent previous funding was led by Alpha Wave Ventures in the $250 million Series F round in 2021, valued the company at over $4 billion.
This latest round of fundraising followed a year of explosive growth, and Andrew Feldman, co-founder and CEO of Celebrus, told TechCrunch. Feldman said this growth is related to the process of using AI models to generate output released in August 2024.
“By the second quarter of 2024, we came to believe that (we) had surpassed the tipping point where the AI created was becoming useful. “We reallocated some resources, hired more people, launched the Inference Cloud in August, but the demand was overwhelming.”
The company opened five new data centers in 2025 and housed AI hardware in locations that include Dallas in Oklahoma City, Oklahoma. Santa Clara, California. Particularly, there is an increasing number of works in regions, including Montreal and Europe.
The expansion of data center footprint and US manufacturing hubs is primarily where this recent round of funding takes place, adding to technological advances that Feldman has not delved into.
TechCrunch Events
San Francisco
|
October 27th-29th, 2025
This latest funding would not have been Celebras’ initial plan, September 30, 2024, as he first submitted his IPO documents exactly a year ago.
The company’s IPO was initially delayed due to a review by the Foreign Investment Commission in the US, with a $335 million investment from Abu Dhabi-based cloud and AI company G42. The IPO was further delayed in early 2025 as President Donald Trump’s position at CFIUS was not filled at the beginning of his term.
Feldman said the company still plans an IPO but will not share details. He said the company is following a common path for late-stage startups, raising large funding rounds from most public investors before listing on the open market itself.
“We chose a few leaders who will help us not only this round, but in the future,” Feldman said. “A company that is a late stage private (financement) leader, but is primarily public.
