AI chip company Cerebras raises $1 billion in pre-IPO funding round
1. Cerebras raised $1.1 billion, valuing the company at $8.1 billion. 2. The company aims to compete with Nvidia in AI chip market. 3. Cerebras plans to expand U.S. manufacturing significantly. 4. Revenue soared to $70 million in Q2 2024 from $6 million last year. 5. Long-term IPO aspirations remain despite regulatory hurdles.