AI chip company Cerebras is currently engaged in negotiations for a new funding round, with the aim of raising $1 billion at a valuation of $22 billion, and is set to further push ahead with its initial public offering (IPO) plans. Previously, after securing Series G funding in October 2025, Cerebras was valued at $8.1 billion. The new valuation marks a 2.7 - fold increase compared to the previous one. Cerebras is a specialist in developing wafer - scale AI chips. Its WSE - 3 chip is produced using a 5 - nanometer manufacturing process. This chip integrates an astonishing 4 trillion transistors and offers a computing power of 125 PetaFLOPS, which serves as the powerhouse for the CS - 3 supercomputer. Among the company's clientele are well - known names such as Meta and IBM. Moreover, Cerebras has inked a three - year computing power procurement deal with OpenAI, involving 750 MW of computing power and a transaction value surpassing $10 billion.