Cerebras was founded in 2016 by Andrew Feldman and a team of former SeaMicro colleagues — the server startup they built and sold to AMD in 2012 for $334 million. The company is based in Sunnyvale, CA and builds AI chips using a wafer-scale approach: using an entire silicon wafer as a single processor, producing a chip with 900,000 AI-optimized cores and 44GB of on-chip SRAM. This architecture eliminates the data movement bottlenecks that constrain conventional GPU clusters and makes it particularly well-suited for low-latency AI inference at scale.

Cerebras sells both hardware systems (the CS-3) and cloud-based inference capacity. In 2025 the company generated $510M in revenue — up 76% year-over-year — with a 47% net margin ($238M net income), making it one of the few profitable AI hardware companies at IPO. A $24.6B revenue backlog at year-end underpins near-term growth visibility, anchored by a $20B+ multi-year agreement with OpenAI for 750 megawatts of low-latency inference capacity through 2028, co-designed with future Cerebras hardware.

AWS announced a partnership deploying a disaggregated inference architecture: Trainium handles prefill while Cerebras' CS-3 handles token decoding, available through Amazon Bedrock — the first time this architecture has been offered commercially. Cerebras IPO'd on Nasdaq under the ticker CBRS in May 2026, pricing at $150–$160/share at a ~$34B valuation, 20x oversubscribed.