Cerebras raised $250 million in venture funding at a valuation of $4 billion in November 2021.
Last year, Cerebras reported revenue of $78.7 million, up 220% from a year earlier.
The company lost $127 million in 2023, and lost $177.7 million in 2022. In H1 2024, it lost $66.6 million from sales of $136.4 million.
A single customer – UAE AI company G42 – accounted for 87% of its total revenue for the first six months of the year.
Cerebras says its third-generation wafer-scale IC is the largest chip ever sold.
“Designed from the ground up for AI work, the 
Cerebras WSE (Wafer-Scale Engine) contains fundamental innovations that advance the state-of-the-art by solving decades-old technical challenges that limited chip size—such as cross-reticle connectivity, yield, power delivery, and packaging,” says Andrew Feldman (pictured with chip) co-founder and CEO of Cerebras Systems, “every architectural decision was made to optimize performance for AI work. The result is that the Cerebras WSE delivers, depending on workload, hundreds or thousands of times the performance of existing solutions at a tiny fraction of the power draw and space.”
