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Cerebras, an A.I. Chip Maker, Files to Go Public as Tech Offerings Ramp Up
The Silicon Valley chip maker filed a prospectus just as SpaceX, Anthropic and OpenAI prepare for their own listings, in what is shaping up to be a wave of enormous initial public offerings.
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Cerebras makes specialized computer chips for building artificial intelligence technologies and delivering them to businesses and consumers.
Credit...
Christie Hemm Klok for The New York Times
By
Cade Metz
Reporting from San Francisco
April 17, 2026,
5:41 p.m. ET
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An expected
wave of technology initial public offerings
is kicking into high gear.
On Friday, the Silicon Valley artificial intelligence chip maker Cerebras took a key step toward listing its shares on the stock market by unveiling
an investor prospectus
. In the filing, Cerebras revealed that its revenue rose 75 percent last year to $510 million and that it swung to an annual profit of $238 million from a net loss in 2024.
Cerebras had
initially filed to list its shares
in the fall of 2024, before raising additional funding and
withdrawing its offering plans
without providing a reason. Now it is moving to go public again, ahead of a slew of potentially enormous offerings from high-profile companies.
Earlier this month, SpaceX, Elon Musk’s rocket and satellite maker that is valued at more than $1 trillion,
filed to list its shares
in what is likely to be one of the largest ever public offerings. The A.I. companies
OpenAI and Anthropic
have also taken early steps to go public. These companies could suck the oxygen out of other I.P.O.s by commanding most investor attention.
Cerebras, based in Sunnyvale, Calif., makes specialized computer chips for building A.I. technologies and delivering them to businesses and consumers. The market is dominated by the Silicon Valley chip maker Nvidia.
Cerebras and others are trying to make a dent in Nvidia’s chip empire. Google and Amazon are pulling in billions of dollars in revenues with
their specialized A.I. chips
. Other start-ups trying to grab a piece of the booming chip market include Graphcore and SambaNova.
Its first prospectus in 2024 showed that Cerebras’s business relied heavily on a single customer that was also an investor: G42, an A.I. company backed by the United Arab Emirates. In total, G42 represented 87 percent of Cerebras’s revenue in the first half of 2024.
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