AI Computing, Chip Startup Cerebras Systems Raises $1.1 Billion

Cerebras Systems Inc. said it closed a $1.1 billion funding round valuing the data center operator and maker of artificial intelligence chips at $8.1 billion, including dollars raised.

The financing was led by Fidelity Management & Research Co.and Atreides Management LP.

Chief Executive Officer Andrew Feldman said the cash infusion will help Cerebras invest in its growing network of data centers, and further develop hardware and software. He added that it would not impact the company’s plans to go public.

Cerebras has big ambitions. Feldman claims his hardware runs AI models multiple times faster than Nvidia ...