AI chip startup Cerebras Systems raises $250 million in funding

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Nov 10 (Businesshala) – Cerebras Systems, a Silicon Valley-based startup developing a giant computing chip for artificial intelligence, said on Wednesday it has raised an additional $250 million in venture funding, bringing its total to date $720 million is reached.

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The Cerebras chip is about the size of a dinner plate, much larger than competing chips from established firms like Nvidia Corp. or Intel Corp. Cerebras designed the chip and worked closely with its external manufacturing partner, Taiwan Semiconductor Manufacturing Company. To address the technical challenges of such an approach.

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Andrew Feldman, CEO and co-founder of Cerebras Systems, said the majority of the new funding will go towards hiring. The company has expanded with offices in Canada and Japan and has about 400 employees, Feldman said, but aims to have 600 by the end of next year.

Even though Cerebras relies on an outside manufacturer to manufacture its chips, it incurs significant capital costs for what is called a lithography mask, a key component needed to mass-manufacture chips. Cerebras is working to transition from TSMC’s 7-nanometer manufacturing process to its 5-nanometer process, where each mask could cost millions of dollars.

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Feldman told Businesshala in an interview, “This funding is dry power to continue doing fearless engineering to make aggressive engineering choices and to continue and do things that aren’t incrementally better, but that are much better than the competition.” Is.”

Cerebras said the new funding round is valued at $4 billion. The round was led by Alpha Wave Ventures in association with the Abu Dhabi Growth Fund. The company’s existing investors include Altimeter Capital, Benchmark Capital, Cotu Management, Eclipse Ventures, Moore Strategic Ventures and VY Capital. (Reporting by Stephen Nellis in San Francisco; Editing by Nick McPhee)

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