Cerebras files for IPO — company remains unprofitable despite 20x revenue growth

Cerebras filed for an IPO again after a sharp jump in AI hardware sales.

Revenue reached $510 million in 2025, but 86% came from just G42 and MBZUAI.

The company still lost money in core operations, even though it reported a net profit tied to accounting effects.

Cerebras also disclosed a large backlog and new deals with AWS and OpenAI, while facing production and deployment limits.