Systems Raises $250M in Funding for Over $4B Valuation to Advance the Future of Artificial Intelligence Compute
Summary
Investment Led by Alpha Wave Ventures, a Global Growth Stage Falcon Edge | Chimera Partnership, along with Abu Dhabi Growth Fund (ADG) and G42, Accelerates Business Expansion and Relentless Pursuit of AI InnovationSUNNYVALE, 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. Alpha Wave Ventures, ADG and G42 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. The companys 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. Our Cerebras CS-2 system, powered by the worlds largest processor the WSE-2, enables customers to accelerate their deep learning by orders of magnitude over general purpose compute.