Cerebras Systems has raised $1 billion in a Series H funding round, valuing the company at approximately $23 billion. The round was led by Tiger Global, with participation from Benchmark, Fidelity Management & Research Company, Atreides Management, Alpha Wave Global, Altimeter, AMD, Coatue, and 1789 Capital.
OpenAI Agreement Strengthens Commercial Outlook
The financing follows a recently announced $10 billion commercial agreement with OpenAI, under which Cerebras will deliver 750 megawatts of compute capacity by 2028. The deal positions Cerebras as a key provider of large-scale AI compute infrastructure and highlights growing demand for high-efficiency systems capable of supporting frontier model development.
Prior to the OpenAI announcement, Cerebras was reported to be seeking a $1 billion raise at a valuation near $22 billion ahead of a planned IPO later this year. The finalized Series H valuation reflects increased investor confidence following the long-term compute commitment.
Rapid Valuation Expansion
Cerebras’ latest round follows an oversubscribed $1.1 billion Series G completed in October 2025, which valued the company at $8.1 billion. The step-change in valuation underscores the accelerating flow of capital into differentiated AI infrastructure platforms with visible revenue pipelines.
Business Model and Infrastructure Strategy
Cerebras designs wafer-scale AI chips optimized for training and inference workloads that require massive compute density. In addition to selling its hardware directly, the company also offers its systems through Cerebras-operated data centers as a cloud service, expanding access to customers seeking on-demand compute.
The OpenAI agreement also meaningfully diversifies Cerebras’ revenue base. In the first half of 2024, approximately 87 percent of company revenue was derived from UAE-based G42. The new contract reduces customer concentration and strengthens Cerebras’ global commercial footprint as it approaches public markets.
Unlock New Opportunities with FNEX Pre-IPO Market
FNEX is a global leader in pre-IPO stock transactions for institutional investors. Our marketplace aggregates bids and offers on late-stage private stocks, with a focus on sectors driving the next generation of value, including artificial intelligence, data infrastructure, and fintech. Institutional participants gain access to exclusive trade data, proprietary pricing metrics, and structured liquidity events designed for precision and privacy.
LEARN MORE ABOUT FNEX PRE-IPO MARKET
Contact FNEX today to buy or sell pre-IPO stocks like Kalshi, Kraken, Space X and Cerebras Stocks.
Disclaimer: This material does not constitute tax, legal, insurance or investment advice, nor does it constitute a solicitation or an offer to buy or sell any security or other financial instrument. Securities offered through FNEX Capital, member FINRA, SIPC. The FNEX Pre-IPO Marketplace is intended for use by financial professionals only. Access is restricted to registered investment advisors, broker-dealers, and other qualified institutional investors.