Cerebras Systems Raises $1B Series H (www.cerebras.ai)

Cerebras Systems has successfully closed a $1 billion Series H financing round, boosting its post-money valuation to approximately $23 billion. The funding was led by Tiger Global, with other notable investors including Benchmark, Fidelity, and AMD. This significant capital influx highlights the growing confidence in Cerebras' mission to revolutionize AI infrastructure, particularly through its groundbreaking technology, the Wafer Scale Engine 3 (WSE-3), which boasts unprecedented performance metrics. The WSE-3 is the largest and fastest AI processor in the world, vastly outpacing traditional GPUs by 56 times in size and delivering training and inference capabilities over 20 times faster while consuming far less power. This advancement positions Cerebras as a leader in AI compute solutions, catering to a diverse array of clients from corporations to governmental institutions globally. With this new funding, Cerebras is well-equipped to further innovate its offerings, making high-performance AI more accessible and efficient, thereby accelerating the pace of AI research and deployment across various sectors.