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$60B AI chip darling Cerebras almost died early on, burning $8M a month
Cerebras Systems was 2026's biggest tech IPO so far. But years ago, it burned through hundreds of millions working on a chip many believed impossible.
AI Summary
Cerebras Systems, now a public AI‑chip maker serving customers such as OpenAI and AWS, completed a blockbuster IPO that week, with its co‑founders becoming billionaires and the company reaching a market value of about $60 billion. In 2019, when it was only three years old, the company nearly failed, burning roughly $8 million a month while attempting to solve a technical problem that the semiconductor industry had deemed impossible.
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