Cerebras Seeks Up to $1 Billion in Private Funding, Delaying Possible IPO

Company had said it aimed to go public this year, after filing for an IPO last September.

Andrew Feldman, co-founder of Cerebras. Photo by Getty.

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Cerebras Systems, a startup that is developing artificial intelligence chips to challenge Nvidia’s, is planning to raise money privately, potentially delaying a plan to go public this year, the company has told investors.

The company is in talks to raise up to $1 billion in fresh funding, according to a person familiar with the discussion. Deliberations are still ongoing, and Cerebras may choose not to pursue a private round, another person said.