Cerebras IPO has ‘too much hair’ as AI chipmaker tries to sell Wall Street on Nvidia alternative

CNBC October 11, 2024
Ari Levy, Jordan Novet

Key Points

– AI chipmaker Cerebras is trying to be the first major venture-backed tech company to go public in the U.S. since Rubrik’s IPO in April.

– The company has a big tail wind thanks to technology that competes with Nvidia, but its prospectus is littered with red flags.

– None of the three leading tech investment banks — Goldman Sachs, Morgan Stanley and JPMorgan Chase — are on the deal.

AI chipmaker Cerebras is trying to be the first major venture-backed tech company to go public in the U.S. since April and to capitalize on investors’ insatiable demand for Nvidia, now valued at $3.3 trillion.

While its position in artificial intelligence infrastructure represents a major tail wind, Cerebras...

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