Daily Scoop🍨: Nvidia (NVDA) New AI Models Competition Is Rife

Chipmaker Cerebras makes Bold Entry into Public Markets

Nvidia Rival Cerebras Files for IPO Amid Soaring AI Chip Demand

Cerebras Systems, a California-based AI chipmaker and competitor to Nvidia, has officially filed for an IPO as the demand for AI chips skyrockets. The company plans to list on Nasdaq under the ticker CBRS, though a specific date has not been announced. This IPO could invigorate the U.S. listings market, which has seen a slowdown since the pandemic, with Cerebras aiming to raise up to $800 million. Despite operating at a loss, Cerebras’ revenue grew to $136 million in the first half of 2024, and the company is trending towards financial improvement.

check out the AI Cerebras chips in action !

Modified in.03-31

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The company plans to list on Nasdaq under the ticker CBRS, though a specific date has not been announced. This IPO could invigorate the U.S. listings market, which has seen a slowdown since the pandemic, with Cerebras aiming to raise up to $800 million. 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