Cerebras Systems, an artificial intelligence (AI) chipmaker looking to compete with the biggest tech firms in the industry like Nvidia (NVDA), filed for an 澳洲幸运5官方开奖结果体彩网:initial public offering (IPO) Monday, with the goal of listing on the Nasdaq under the "CBRS" stock ticker.

The company, founded in 2016, has spent the last several years designing chips specifically for AI technology. In its prospectus filed Monday, Cerebras said it has worked to answer the question of how it would design chips if it were starting the design process from scratch.

Cerebras Looking To Red✅uce Losses, Compete ꦑWith Tech Giants

The company says that its design process has led it to create a chip substantially larger than those created by competitors, to avoid the complex process of connecting them and to provide greater on-chip memory and bandwidth.

In its 澳洲幸运5官方开奖结果体彩网:prospectus, Cerebras reported a $66.6 million net loss for the first six months of 2024 on $136.4 million in total revenue, compared with a wider $77.8 million net loss and $8.7 million in reꩵvenue in the first half of 2023, as it said associated costs rose substantially year-over-year with increased production.

It listed its competition as chipmakers including Nvidia, Advanced Micro Devices (AMD), and Intel (INTC), along with Big Tech giants Microsoft (MSFT) and Alphabet (GOOGL), which have begun designing𝄹 and produ♓cing their own AI chips.

Cerebras didn't disclose how many shares it intends to offer, or what its IPO price will be, but clearly th♒e potential IPO was announ🔴ced at a time when companies are looking to capitalize on the market's enthusiasm for the AI industry.