Cerebras in Discussions to Raise Funds at $22 Billion Valuation

AI chip provider Cerebras Systems Inc.is in talks to raise roughly $1 billion in a new funding round, according to a person familiar with the matter, bolstering the company’s efforts to compete with Nvidia Corp.

The round would value the startup at $22 billion before the investment, said the person, who asked not to be identified because the deliberations are private. The company still plans to move ahead with an initial public offering, the person said.

Cerebras CEO Andrew Feldman is angling to challenge Nvidia in AI chips.

Photographer: Nathan Laine/Bloomberg

The fundraising round would bring fresh momentum to a company seeking to challenge the dominance of Nvidia, the top provider of AI ...