AI chipmaker Cerebras files for an IPO

• Sure, it's in the scorching AI sector — with revenue up 6,400% year-over-year — that that shouldn't detract from the anomaly.

By the numbers: Cerebras plans to list on the Nasdaq (CBRS) with Citigroup and Barclays leading a group of 11 underwriters.

• It reports a $66 million net loss on $104 million in revenue for the first half of 2024, compared to a $77 million net loss on just $1.6 million in revenue for the year-earlier period.
• Cerebras has raised over $400 million in VC funding, most recently in 2021 at a $4.25 billion valuation, from firms like Foundation Capital, Benchmark, Eclipse Ventures, Alpha Wave, Coatue, Sam Altman, and Andy Bechtolsheim.

Go deeper, via the NYT: "For two years, stock investors wanting in on the frenzy around AI have had only a few tech industry options: big companies like Microsoft and Nvidia. But that is set to change."