AI chip manufacturer Cerebras has secretly submitted an IPO application, with an estimated valuation of up to $22 billion.

According to reports, artificial intelligence (AI) chip maker Cerebras, competing with NVIDIA Corporation (NVDA.US) and AMD (AMD.US), has secretly filed for an initial public offering (IPO). The report cited sources familiar with the matter, stating that the company has been meeting with potential investors and could possibly go public as early as April. Previous reports indicate that Cerebras is aiming to go public in the second quarter of 2026. Cerebras has recently been listed by analysts as one of the more prominent AI companies likely to go public this year. In addition to NVIDIA Corporation and AMD, Cerebras also competes with Groq. In late December of last year, NVIDIA Corporation announced a non-exclusive licensing agreement with Groq for its inference technology, valued at around $2 billion. As part of the agreement, Groq's founders Jonathan Ross, president Sunny Madra, and other members of the Groq team joined NVIDIA Corporation. Last month, Cerebras signed a multi-year agreement worth billions of dollars with OpenAI, providing them with 750 megawatts of computing power. It is reported that Cerebras is also in talks to raise $1 billion in funding, which would value the company at $22 billion. In October 2025, shortly after completing an $11 billion financing round (raising their valuation to $8.1 billion), Cerebras withdrew its plans to go public. Cerebras initially filed for a public listing in September 2024, but the process was delayed due to a federal government review of its relationship with the Abu Dhabi AI company G42. The Committee on Foreign Investment in the United States completed the review earlier this year, and Cerebras announced in March that the pending issues had been resolved. Cerebras was founded in 2015 and is headquartered in Sunnyvale, California. The company reports that its WSE-3 chip and CS-3 system broke AI inference and training benchmark records when they were released last year. Its current clients include Meta Platforms (META.US) and AstraZeneca PLC Sponsored ADR (AZN.US), among others.