Artificial intelligence (AI) microchip maker Cerebras Systems has filed to hold an initial public offering (IPO) in the U.S.
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The company, which develops high-performance processors for AI workloads, is planning to hold its IPO as soon as the second quarter of 2026. Cerebras previously withdrew its IPO filing in October of this year, days after announcing it had raised over $1 billion in a funding round that valued the chipmaker at $8 billion.
The company first filed paperwork with the U.S. Securities and Exchange Commission (SEC) to go public in 2024, before postponing and ultimately withdrawing its IPO this autumn. There has been speculation that the IPO had been withdrawn over U.S. national security concerns about a minority investment in Cerebras by a technology company based in the United Arab Emirates (UAE).
Competitors of Cerebras
Cerebras Systems recently announced that it has obtained clearance from the Committee on Foreign Investment in the United States (CFIUS) to hold its IPO. Based in Sunnyvale, California, Cerebras is known for its wafer-scale engines and microchips designed to accelerate the training of large-language AI models.
Cerebras Systems’ main competitors are fellow chipmakers Nvidia (NVDA) and Advanced Micro Devices (AMD), among other chipmakers. It is not yet clear which U.S. exchange Cerebras plans to list shares on or what its ticker symbol will be. An exact date for the IPO also hasn’t been announced.
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The stock of Nvidia has a consensus Strong Buy rating among 42 Wall Street analysts. That rating is based on 40 Buy, one Hold, and one Sell recommendations issued in the past three months. The average NVDA price target of $260.00 implies 43.65% upside from current levels.
