Cerebras Systems Secures $1 Billion in Funding at $23 Billion Valuation
February 5, 2026
In a significant move underscoring intense investor confidence in specialized AI infrastructure, semiconductor company Cerebras Systems has raised $1 billion in a Series H funding round, achieving a post-money valuation of $23 billion. The funding highlights the critical role of wafer-scale chip technology in powering the next generation of generative AI and high-performance computing workloads. The investment round was led by Tiger Global and included participation from a consortium of prominent firms such as Benchmark, Fidelity Management & Research Company, Atreides Management, Alpha Wave Global, Altimeter, AMD, Coatue, and 1789 Capital. This substantial capital infusion arrives just two weeks after Cerebras announced a landmark $10 billion agreement with OpenAI, which commits the chipmaker to deliver 750 megawatts of its unique compute capacity to the AI leader by 2028. The latest funding round marks a rapid escalation in the company's valuation.
In October 2025, Cerebras raised $1.1 billion at an $8.1 billion valuation. The new $23 billion figure represents a near-tripling in less than five months, reflecting both the strategic importance of its recent OpenAI deal and broader market demand. The capital is also seen as strategic preparation for Cerebras's long-anticipated initial public offering, which is reportedly planned for later this year. For the AI chip industry, Cerebras's success signals a robust alternative to traditional GPU architectures. The company's business model, which includes direct hardware sales and offering its systems as a cloud service, is gaining traction. The OpenAI partnership is particularly strategic, as it helps diversify Cerebras's revenue stream. Previously, the company relied heavily on the United Arab Emirates' G42 group, which accounted for 87 percent of its revenue in the first half of 2024. This latest billion-dollar vote of confidence from investors suggests the market is betting on Cerebras's ability to scale its novel technology and capture a significant share of the burgeoning AI compute market.
Source: datacenterdynamics
