Cerebras Systems Raises $250M in Funding for Over $4B Valuation to Advance the Future of Artificial Intelligence Compute
Investment Led by Alpha Wave Ventures, a Global Growth Stage Falcon Edge | Chimera Partnership, along with Abu Dhabi Growth Fund (ADG), Accelerates Business Expansion and Relentless Pursuit of AI Innovation
SUNNYVALE, CALIFORNIA – November 10, 2021 – Cerebras Systems, the pioneer in accelerating artificial intelligence (AI) compute, today announced it has raised $250 million in a Series F financing round, valuing the company at over $4 billion. To-date, the company has raised $720 million. The Series F round was led by Alpha Wave Ventures, a global growth stage Falcon Edge | Chimera partnership, along with Abu Dhabi Growth Fund (ADG). Alpha Wave Ventures and ADG join a world class group of investors including Altimeter Capital, Benchmark Capital, Coatue Management, Eclipse Ventures, Moore Strategic Ventures, and VY Capital.
The funding round enables Cerebras to further expand its business globally and deploy its industry-leading CS-2 system to new customers, while continuing to strengthen its leadership in AI compute.
“The Cerebras team and our extraordinary customers have achieved incredible technological breakthroughs that are transforming AI, making possible what was previously unimaginable,” said Andrew Feldman, CEO and co-founder of Cerebras Systems. “This new funding allows us to extend our global leadership to new regions, democratizing AI, and ushering in the next era of high-performance AI compute to help solve today’s most urgent societal challenges – across drug discovery, climate change, and much more.”
Cerebras’ technology accelerates the time to answer for today’s AI work from months to minutes, and from weeks to seconds – all at a fraction of the power and space. It will also support the multi-trillion parameter models of the future with its brain-scale AI innovations. The company’s CS-2 system, powered by the industry-leading Wafer Scale Engine (WSE-2), is purpose-built for AI, delivering a massive leap forward for customers across pharma & life sciences, defense, supercomputing centers, national labs, and more.
“Cerebras Systems is redefining what is possible with AI and has demonstrated best in class performance in accelerating the pace of innovation across pharma and life sciences, multiple other fields, and scientific research,” said Rick Gerson, Co-Founder, and Chairman of Falcon Edge Capital and Alpha Wave. “We are proud to partner with Andrew and the Cerebras team to support their mission of bringing high performance AI compute to new markets and regions around the world.”
Cerebras has expanded its footprint beyond the U.S. with new offices in Tokyo, Japan and Toronto, Canada. Its roster of customers has grown significantly to include Argonne National Laboratory, Lawrence Livermore National Laboratory, Pittsburgh Supercomputing Center (PSC) for its groundbreaking Neocortex AI supercomputer, EPCC, the supercomputing center at the University of Edinburgh, Tokyo Electron Devices, GlaxoSmithKline, and AstraZeneca.
For more information on Cerebras Systems and the pioneering CS-2, please visit www.cerebras.net.
About Cerebras Systems
Cerebras Systems is a team of pioneering computer architects, computer scientists, deep learning researchers, and subject matter experts of all types. We have come together to build a new class of computer system, designed for the singular purpose of accelerating AI and changing the future of AI work forever. Our Cerebras CS-2 system, powered by the world’s largest processor – the WSE-2, enables customers to accelerate their deep learning by orders of magnitude over general purpose compute.
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