Nvidia rival quietly files for IPO

Nvidia rival quietly files for IPO

Jake Perez Jake Perez

Jake Perez

Sr. Editor at LinkedIn News

Published Jun 21, 2024
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Artificial-intelligence chip developer Cerebras has confidentially filed for an initial public offering, The Information reports, citing an anonymous source. The startup has reportedly authorized preferred shares "priced at a deep discount" compared to its previous round of funding. Cerebras wants to seize on intense investor enthusiasm around all things AI, including its own specialized chip for training AI models. Cerebras is one of a number of startups coming for Nvidia, which became the world's most valuable public company earlier this week — besting even LinkedIn parent Microsoft and Apple — before sliding back to third by Friday.

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  2. View profile for Aaron Dillon, graphic
    Aaron Dillon

    AG Dillon & Co | Venture Capital Funds for RIAs

    Pre-IPO Stock Market Update | Week ending Jun 21, 2024 ... in this report: • Page 2-4: Revolut $40b val, +75% from current 2ndary valuation; Cerebras Systems AI chips IPO; no IPO for Stripe; $100b from SoftBank to AI companies; + X Payments, Starlink Mini, new Anthropic AI model, HeyGen $60m raise  • Page 5: AG Dillon Pre-IPO Stock Vintage Index update • Page 6: Current pre-IPO stock secondary market implied valuations • Page 7: Pre-IPO stock secondary market performance

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  3. View profile for Brendan Green, graphic
    Brendan Green

    Increase revenue and productivity with AI and Automation solutions that actually help (24/7) | On a mission to eliminate low-value tasks effortlessly | Message "Auto" to learn more.

    Interesting AI news from across the web: 📝 Anthropic launches Claude 3.5 Sonnet, outperforming GPT-4o in some tests. A significant leap in the AI race! [Discover more](https://lnkd.in/gCxghHsT) 💼 AI Chipmaker Cerebras confidentially files for a US IPO, hinting at bigger AI innovations on the horizon. [Read details](https://lnkd.in/g35kym6T) 🚀 HeyGen raises $60M to create realistic-looking avatars with AI. Another step towards the future of digital representation! [Find out more](https://lnkd.in/guEdWHte) 💡 AI App Socap.AI helps grow your network and fundraise faster. Boost your business operations with smart AI solutions! [Check it out](https://lnkd.in/gu6RvPAh) 🎵 VoicePen transforms speech to text natively, ideal for streamlined content creation. [Learn more](https://lnkd.in/gzKbdYJd) #AI #Automation #Innovation

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  4. Oren B. commented on this

    View profile for Stephanie Palazzolo, graphic
    Stephanie Palazzolo

    AI Reporter at The Information

    New w/ Natasha Mascarenhas: We're so back — chip developer Cerebras has filed confidentially to go public. There's more to the story, though, as the company also authorized shares at a much lower price to its last round. https://lnkd.in/gb5niT64

    Cerebras, an Nvidia Challenger, Files for IPO Confidentially

    Cerebras, an Nvidia Challenger, Files for IPO Confidentially

    theinformation.com

    Oren B.

    Business Development & Live Operations Leader in Gaming | xFunPlus

    I'm not sure you can challenge the most valuable company in the world just a few days after NVIDIA got that status. I think you would need to wait at least a year. 🤣

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