Cerebras raised $1B, hit $23B valuation, and secured a deal with OpenAI amid plans for a 2026 IPO.

Cerebras Systems raised $1 billion in a funding round led by Tiger Global, boosting its valuation to $23 billion—nearly triple its 2025 valuation—amid growing demand for AI infrastructure. The company, known for its wafer-scale WSE-3 chips with 4 trillion transistors, secured a commercial deal with OpenAI to deploy its systems for AI training. Despite declining reported acquisition offers from Nvidia, Cerebras plans to refile for an IPO in Q2 2026, citing strong revenue growth and a strategic push to remain independent.