Nvidia challenger files for IPO
Cerebras, a developer of microprocessors for artificial intelligence systems, filed for an initial public offering as it looks to raise capital and strengthen its competitive standing in the sector dominated by Nvidia. The startup is seeking to raise as much as $1 billion in the IPO, Bloomberg reported last week, citing anonymous sources. In addition to Nvidia, Cerebras faces competition from the likes of Google and Amazon, which have developed their own AI chips. IPOs in the tech sector have been sporadic this year, with Reddit and Rubrik going public this spring.