Reported 7 days ago
Cerebras Systems has announced a remarkable over threefold increase in annual revenue, reaching $78.74 million for 2023, as it prepares for a U.S. initial public offering (IPO). The company, based in Sunnyvale, California, specializes in processors for artificial intelligence and is backed by notable investors such as the Abu Dhabi Growth Fund. Despite a net loss of $127.16 million for the year, the strong demand for AI applications, evidenced by Nvidia's stock performance, positions Cerebras's upcoming IPO as a key indicator of market appetite for AI-related stocks.
Source: YAHOO