Cerebras Closes $1.1bn Funding Round

Wafer-scale chip designer Cerebras Systems has raised $1.1 billion in an oversubscribed Series G funding round, at an $8.1bn valuation. The company said it would use the funds to expand its technology portfolio, including AI processor design, packaging, system design, and AI supercomputers.

"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, Cerebras. "We are proud to expand our consortium of best-in-world investors.”

The round was led by Fidelity Management & Research Company and Atreides Management and included participation from Tiger Global, Valor Equity Partners, and 1789 Capital, as well as existing investors Altimeter, Alpha Wave, and Benchmark.