Cerebras Raises $1 Billion, Valued At $23B

Cerebras Systems said on February 4, 2026 it raised $1 billion in a late-stage funding round led by Tiger Global, valuing the wafer-scale AI chipmaker at $23 billion. The round included Benchmark, Coatue and 1789 Capital and nearly tripled its valuation since a September financing that valued it at $8.1 billion. The funding and a recent commercial deal with OpenAI underscore Cerebras' growing role as an alternative AI-chip supplier to Nvidia and AMD.