Artificial Intelligence Chip Startup Nabs $4 Billion Valuation

Cerebras Systems Inc., an upstart chipmaker trying to break into the growing market for artificial intelligence processors, raised $250 million in an investment round that valued the company at more than $4 billion.

The valuation represents a nearly 70% jump from a November 2019 round that pegged the company at $2.4 billion. The new funds, contributed by Alpha Wave Ventures and Abu Dhabi Growth Fund, will help fuel Cerebras’s global expansion, Chief Executive Officer and founder Andrew Feldman said Wednesday. The investment was the Sunnyvale, California-based company’s Series F round.

The growth of artificial intelligence software has generated ...