News Summary

• Cerebras announced it raised a $1.1 billion Series G round on Tuesday.
• The round was co-led by Fidelity and Atreides Management with participation from Tiger Global, Valor Equity Partners, and 1789 Capital.
• Cerebras, which was founded in 2015 and offers chips, hardware systems, and cloud services specifically designed for AI, has now raised almost $2 billion in its 10-year history.
• Its most recent prior financing was a $250 million Series F round in 2021 that was led by Alpha Wave Ventures and valued the company at more than $4 billion.