Cerebras Raises $1.1B, Delays IPO Amid US Review

- Raises $1.1 billion in Series G funding, doubling valuation to $8.1 billion. - Planned IPO delayed amid U.S. national security review of G42 investment. Cerebras Systems, a Silicon Valley-based manufacturer of advanced AI chips and a direct competitor to Nvidia, announced on September 30, 2025, that it raised $1.1 billion in its Series G funding round, elevating its valuation to $8.1 billion. Fidelity Management & Research Company and Atreides Management led this latest investment round, with other participants including Tiger Global, Valor Equity Partners, Altimeter Capital, Benchmark, Alpha Wave Ventures, and 1789 Capital. The funding round arrives as Cerebras Systems plans an Initial Public Offering (IPO); however, the company has delayed the IPO due to an ongoing U.S. national security review. The Committee on Foreign Investment in the United States (CFIUS) is conducting the review, which centers on a $335 million investment from G42, an AI and cloud computing firm based in Abu Dhabi. Cerebras will use the new capital to enhance its AI chip designs, scale its U.S.-based manufacturing operations, and expand its data center capacity to address the rising demand for AI-enabled hardware and services. The company designs innovative "wafer-scale" chips specifically for artificial intelligence workloads and provides a cloud-based inference service. Significant revenue growth underscores the firm's rapid rise in the competitive AI chip market. Cerebras' revenue rose from less than $6 million in Q2 2023 to approximately $70 million in Q2 2024, reflecting the increasing adoption of its technology. On September 30, CoinMarketCap reported that Nvidia (NVDA) was trading at $486.52, with a 3.4% increase in 24-hour trading volume.