Cerebras Systems

In January 2026 Cerebras raises $1.0 billion net in Series H at $89.01 a share. Benchmark invests $225 million, with Alpha Wave and Fidelity funds among the other large checks.

On March 13, 2026 Cerebras and AWS announce that CS-3 systems will go into AWS data centers, with Trainium handling prefill and Cerebras wafers handling decode over Elastic Fabric Adapter, targeting up to 5x more high-speed token capacity. The companies later guide Amazon Bedrock availability to Q1 2027.

Class A shares begin trading on May 14, 2026 under ticker CBRS and close the first day at $311.07 after pricing at $185. The offering, including the full 4.5 million-share greenshoe, sells 34.5 million shares for about $6.38 billion gross and $6.2 billion net, the largest U.S. semiconductor IPO on the company's telling. Dual-class B shares keep about 99% of voting power with insiders.

On June 23, 2026 Cerebras reports Q1 GAAP revenue of $193.4 million and record core revenue of $191.3 million, up 92% year over year, and flags the OpenAI and AWS agreements as the drivers of 2026-2027 growth.

On July 9, 2026 Flex and Cerebras say new Milpitas, California lines should lift CS-3 production about 7x through 2026. The same day, Feldman tells the RAISE Summit in Paris that first European capacity will come online by year-end 2026 and that total European capacity is planned at 200 MW by the end of 2027, with sites in France, Norway, and Finland.

On July 22, CrowdStrike says Falcon AIDR will run on Cerebras inference while Cerebras standardizes on Falcon for its own security. On July 23, AMD and Cerebras announce a Helios-plus-WSE disaggregated stack aiming at up to 5x tokens per second per watt, first through Cerebras Cloud in H2 2026 and in production in Q4 2026.

On August 12, 2026 Cerebras reports GAAP revenue of $180.1 million (+74%) and record core revenue of $209.9 million (+103%), with core cloud and other services at $127.7 million (+287%). Remaining performance obligations are $25.4 billion, liquidity is $8.6 billion, more than 600 MW of data-center capacity is under contract for 2027, and full-year 2026 core-revenue guidance is raised to $880-890 million. GAAP operating loss is $477.2 million, largely from IPO-triggered stock-based compensation.

On August 13, 2026 OpenAI and Cerebras preview Ultrafast mode for GPT-5.6 Sol, a limited API tier running on WSE-3 at up to 750 output tokens per second, about 14x standard processing, with the same intelligence as the standard model. Cerebras says Ultrafast finished Humanity's Last Exam's 2,500 questions in 11 hours 11 minutes versus more than three days on a slower frontier stack.

At its SUPERNOVA event on August 18, 2026 Cerebras introduces CS-4, a rack built from three WSE-3 Turbo processors on the new modular Nexus platform. The company claims up to 30x faster inference than GPU systems, up to 10x more throughput per watt than CS-3, 750 PFLOPs of AI compute, 129.6 PB/s of memory bandwidth, and 2-microsecond wafer-to-wafer links, with first shipments in Q3 2026. A week later at Hot Chips it previews CS-5 for 2027 and CS-6 3D-stacked DRAM.

On September 1, 2026 Cerebras and Compute Nordic Finland announce a Mikkeli, Finland AI data center that will scale in phases to 165 MW of contracted IT capacity under seven-year service orders, with construction on the first 50 MW phase already under way. Independent analysis cited in the release puts full-scale regional investment at EUR 1.0-1.7 billion.

On September 16, 2026 the first post-IPO lock-up tranche, about 14.6 million shares, became eligible for sale under the prospectus schedule. The remaining lock-up lasts until the earlier of the Q3 2026 earnings report or the 180-day outside date.

In September 2025 Cerebras sells Series G preferred at $36.23 a share, raising $1.1 billion net. The round comes as Meta, Mistral, Perplexity, and Hugging Face start routing high-speed inference over Cerebras, and as the company announces a six-site datacenter expansion.

On December 24, 2025 Cerebras and OpenAI sign a master relationship agreement under which OpenAI will purchase 750 MW of AI inference capacity deployed in tranches through 2028, a deal Cerebras values at more than $20 billion, with an option for 1.25 GW more by 2030. OpenAI also funds a ~$1 billion working-capital loan in January 2026 and receives warrants covering about 33.4 million Class N shares.

Cerebras introduces the 5nm WSE-3 (4 trillion transistors, 900,000 cores, 44 GB SRAM, 21 PB/s memory bandwidth) and the CS-3 system, later named to Time's best inventions of 2024. In August it launches a public AI inference cloud it claims is 10-20x faster than Nvidia H100 GPU systems on open models.

UAE's G42 agrees to buy the first of a planned series of Cerebras-powered supercomputers. Condor Galaxy 1 is rated at 4 exaFLOPs and 54 million cores; CG-2 follows in November 2023, and the companies break ground on CG-3 in March 2024.

Cerebras unveils Andromeda, a 16-wafer cluster with 13.5 million AI cores and up to 1 exaflop at about 500 kW. The Computer History Museum in Mountain View puts the WSE-2 on display as 'The Biggest Chip In the World.'

The second-generation wafer has 850,000 cores, 2.6 trillion transistors, 40 GB of SRAM, and 20 PB/s of memory bandwidth. NETL later reports CS-2 field-equation runs nearly 500x faster than its Joule supercomputer.

A November 2021 Series F led by Alpha Wave Ventures and Abu Dhabi Growth Fund raises $250 million at a valuation above $4 billion, bringing disclosed private capital to about $720 million.

After years of packaging, cooling, and yield work, Cerebras introduces the first-generation Wafer-Scale Engine and the CS-1 rack appliance, with about 400,000 cores, 1.2 trillion transistors, and 18 GB of on-chip memory. Early customers are national labs and life-sciences groups, including Argonne, GSK, and AstraZeneca.

A November 2019 Series E raises $270 million at a $2.4 billion valuation, after an $88 million Series D in November 2018 that made the company a unicorn.

Cerebras raises $27 million in a May 2016 Series A led by Benchmark, Foundation Capital, and Eclipse Ventures, then follows with a Coatue-led Series B in December 2016 and a VY Capital-led Series C in January 2017.

Andrew Feldman, Gary Lauterbach, Michael James, Sean Lie, and Jean-Philippe Fricker found Cerebras in Sunnyvale after working together at SeaMicro (sold to AMD in 2012). The bet is that AI is a communication-bound workload and that the way to cut latency is to keep compute and memory on one wafer-scale chip.