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Cerebras

Last Updated July 29, 2025

Cerebras Systems develops hardware and software designed to accelerate AI training and inference, anchored by its wafer-scale processor (WSE) and associated systems.
Company Overview: Cerebras
Cerebras builds large-scale AI compute systems, including wafer-class accelerators and system software for training and inference. Its architecture is designed to increase throughput on deep learning workloads and simplify model scaling. The company is part of the semiconductor and high-performance computing ecosystem serving AI research and enterprise deployment.
Investment Highlights

Valuation & Growth

  • Series F (Nov 2021): $250 M raised at ~$4 B valuation, led by Alpha Wave Ventures, Abu Dhabi Growth Fund & G42. Total funding to date ~$720 M.

  • Revenue Growth: 2022 revenue ~$24.6 M; rose to $78.7 M in 2023 (220% YoY); reached $136.4 M in H1 2024, while losses halved from 2022 to $66.6 M.

Major Investors

  • Alpha Wave Ventures, Abu Dhabi Growth Fund (ADG), G42, Benchmark Capital, Foundation Capital, Coatue, Eclipse Ventures, Altimeter Capital, VY Capital among others.

  • Strategic investment and revenue from G42 underscores confidence among sovereign AI infrastructure investors.

Product & Technology Leadership

Core Product – Wafer Scale Engine (WSE) & CS Systems

  • WSE‑1 (2019): ~1.2 trillion transistors, 400,000 AI cores, 18 GB SRAM, 100 Pb/s on‑wafer bandwidth

  • WSE‑2 (2021): 2.6 trillion transistors, 850,000 cores, 40 GB SRAM, 20 PB/s memory bandwidth, 220 Pb/s fabric bandwidth, built on 7 nm process

  • WSE‑3 (2024): 4 trillion transistors, 900,000 AI cores, 125 petaflops compute, powering CS‑3 hardware. Supports models up to 24 trillion parameters.

Software & Scale Infrastructure

  • CS‑2 and CS‑3 systems with optimized software stack for major LLM models (e.g., GPT, LLaMA, Falcon, etc.)

  • Global AI centers: Condor Galaxy 3 supercomputer (64 CS‑3s) launching in Dallas via partnership with G42

 Market Position & Strategic Advantage

Global Impact & Clients

  • Key Deployments: G42’s AI model infrastructure, Mayo Clinic (genomics), GSK (pharma), U.S. national labs (LLNL, DOE), Condor Galaxy 3 (Dallas).

Competitive Moats

  • Engineered for scale: Monolithic wafer-scale chips outperforming even GPU clusters in memory bandwidth and parallelism

  • Vertical integration: Hardware, software, and operations stack fully owned—differentiating from GPU-based offerings

  • Exclusive clientele and partnerships: Limited competition in sovereign/cloud supercomputing tier; deep collaboration with strategic clients like G42

  • IPO path currently dependent on regulatory clearance (CFIUS review) but enhanced by sovereign and enterprise backing.

Financial Opportunity

Market Opportunity

  • AI Chip & Supercomputing Market: Dominated by NVIDIA, projected to exceed tens of billions by 2027–2030. Cerebras targets niche of ultra‑large models and sovereign compute infrastructure.

Growth Drivers

  • WSE‑3 demand: Institutions and sovereign bodies investing in high-end AI infrastructure

  • Platform scaling: Transitioning from hardware sales to cluster-based rental/cloud compute offerings

  • DARPA and enterprise partnerships: e.g., $45M DARPA project with Ranovus, integration with Qwen3 LLM, energy‑efficient deployments

Revenue Streams

  • Hardware sales: ~20% of revenues come from selling CS systems

  • AI cloud offerings: ~80% of revenue via access-based compute services

  • Enterprise / customer deployments: Recurring contracts with high-value clients (e.g., installed systems at national labs, pharma, sovereign operators).

Key Stats

Founded: 2015

Total Raised: ~$720 M over 6 funding rounds (Series F led by Alpha Wave Ventures, ADG, and G42)

Post‑money Valuation: ~$4 B (Series F, late 2021)

2023 Revenue: $78.7 M; 1H 2024 revenue $136.4 M (net loss narrowing from $177 M to $66.6 M)

Flagship Product: WSE‑3 chip (4 trillion transistors, 900,000 AI cores) powering CS‑3 systems & Condor Galaxy 3 supercomputers

HQ: Sunnyvale, California, USA

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About Cerebras

Cerebras Systems is a company that specializes in developing advanced hardware and software solutions for accelerating artificial intelligence (AI) workloads. Their expertise lies in creating high-performance computing systems that can handle the massive computational demands of large-scale AI models and applications.

The flagship product of Cerebras Systems is the Wafer Scale Engine (WSE), a groundbreaking processor that is designed specifically for AI workloads. The WSE is the largest chip ever built, containing 1.2 trillion transistors and 400,000 AI-optimized cores. This enormous computational capacity enables businesses and researchers to train and deploy AI models with unprecedented speed and efficiency.

Cerebras Systems’ technology can be applied to various domains, including healthcare, finance, scientific research, and more. Their solutions can accelerate tasks such as natural language processing, computer vision, and complex simulations. By leveraging the power of the WSE, organizations can significantly reduce the time and resources required to develop and implement AI solutions.

In addition to the WSE, Cerebras Systems also provides a comprehensive software stack that simplifies the deployment and management of AI workloads. Their software tools allow users to easily integrate the WSE into existing IT infrastructures and streamline the development of AI applications.

Cerebras Systems employs a team of world-class engineers, computer scientists, and AI experts who are dedicated to pushing the boundaries of AI hardware and software. Their innovative solutions have the potential to revolutionize the way organizations approach AI, enabling them to tackle more complex problems and drive transformative outcomes.