Cerebras Systems, a startup competing with industry leader Nvidia for a slice of the lucrative AI chip market, said late on Monday its revenue surged more than threefold in 2023, in a filing to go public in the U.

Cerebras Systems, an AI chipmaker that lists among its competitors tech giants Nvidia, Microsoft, and Intel, filed for an IPO Monday, looking to capitalize on widespread enthusiasm about the AI industry.

A second risk, and likely the biggest, is Cerebras' customer concentration. Right now, AI company G42 from the United Arab Emirates accounts for 87% of Cerebras' sales in the first six months of 2024. G42 and affiliated entities are also behind next year's $1.43 billion order, meaning that concentration will only grow.

Earlier this week, CNBC reported that artificial intelligence (AI) chip startup Cerebras Systems will soon list on the equity markets via an initial public offering (IPO). Cerebras competes with AI darling and market bellwether Nvidia (NVDA),

As the largest beneficiary of the generative AI surge, Nvidia's dominance has attracted a wave of challengers. The recent initial public offering (IPO) filing by Cerebras signals growing efforts to challenge Nvidia's control over supply and pricing in the AI chip market.

Cerebras Systems, an artificial intelligence (AI) chipmaker that competes head-to-head with Nvidia ($NVDA), has filed to hold an initial public