Look up in the sky! It’s a bird! It’s a plane! It’s… an IPO. The Cerebras S-1 filing is interesting in many ways, but certainly one is that, well, it is an (upcoming) IPO in the first place.  In a context where tech IPOs have been at an all time low, with a very modest uptick in 2024 (Reddit, Rubrik, etc), the fact that  a VC-backed tech startup has filed is rare enough to be exciting and newsworthy on its own.

The other unmistakable part of the filing is that Cerebras is a “pure play AI” company, in a context where there’s been a dearth of such companies in public markets, outside of Palantir and arguably a couple of others, like C3 AI or recent entrants like Tempus AI and Astera Labs. For the most part…[click here to continue reading]