Cerebras, an Nvidia Challenger, Files for IPO Confidentially

Cerebras, a developer of artificial intelligence chips that’s trying to wrestle business from Nvidia, has filed confidentially with securities regulators for an initial public offering, according to a person involved in the decision.

The startup has also notified Delaware, the state in which it is incorporated, that it is creating preferred shares priced at a deep discount to its last private funding round. The move could make its shares more attractive to private investors ahead of an IPO and those who participate in the public listing.