AI Chipmaker Cerebras Files for IPO After Tripling Revenue

The IPO will test investor appetite for AI stocks amid recent market shifts.

Cerebras Systems reported a threefold increase in revenue for 2023, reaching $78.74 million.
The company will list on the Nasdaq under the ticker symbol 'CBRS'.
Cerebras competes with industry giants like Nvidia, AMD, Intel, Microsoft, and Google.
Major investors include the Abu Dhabi Growth Fund, Coatue Management, and OpenAI CEO Sam Altman.
The IPO comes as the U.S. market shows signs of recovery, following a period of investor caution in the tech sector.