Cerebras IPO Filing Goes Public Today at $35B+ Valuation with $10B OpenAI Compute Deal

The Information·high signal

Cerebras Systems is making its IPO paperwork public today (April 17), targeting a $35B+ valuation — a 60% premium over its $22B February valuation — and aiming to raise $3B+. The company's wafer-scale chip is 56x larger than NVIDIA's H100, and its customer roster includes OpenAI ($10B compute deal), IBM, Meta, and Mistral AI. This is the largest pure-play AI chip IPO yet and signals that the market sees viable alternatives to NVIDIA's inference monopoly.