AI chip company Cerebras raises $1B in pre-IPO funding round, CNBC says

Cerebras said Tuesday that it’s raised $1.1B in new funding at a valuation of $8.1B as it tries to take on Nvidia (NVDA), the world’s most valuable company, in the booming market of artificial intelligence chips, CNBC’s Jordan Novet reports. The AI chipmaker filed to go public exactly a year ago. The company has yet to take the plunge, but has now bought itself more time to stay private, the author notes.