""By [the second quarter] of 2024, we came to believe that [we] had crossed a tipping point in which the AI that had been made was becoming useful, and that means you would see an explosion of demand for inference," Feldman said. "We reallocated some resources, we hired more people, and in August, we launched our inference cloud, and the demand has been overwhelming.""
""Silicon Valley-based Cerebras announced it raised a $1.1 billion Series G round on Tuesday that valued the AI hardware company at $8.1 billion. The round was co-led by Fidelity and Atreides Management with participation from Tiger Global, Valor Equity Partners, and 1789 Capital, among others.""
""Cerebras, which was founded in 2015 and offers chips, hardware systems and cloud services specifically designed for AI, has now raised almost $2 billion in its 10-year history. Its most recent prior financing was a $250 million Series F round in 2021 that was led by Alpha Wave Ventures and valued the company at more than $4 billion.""
Cerebras Systems secured a $1.1 billion Series G financing valuing the company at $8.1 billion, with Fidelity and Atreides Management co-leading and participation from Tiger Global, Valor Equity Partners, and 1789 Capital. Founded in 2015, Cerebras produces chips, hardware systems, and cloud services for AI and has raised nearly $2 billion to date, including a $250 million Series F in 2021. Growth accelerated after a perceived Q2 2024 tipping point and the August 2024 launch of an inference cloud, driving overwhelming demand. The new capital will fund data center expansion and U.S. manufacturing hubs, with multiple new sites opened in 2025.
Read at TechCrunch
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