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Cerebras Systems is seeking to raise $1 billion at a $22 billion pre-money valuation as it prepares for a U.S. IPO in Q2 2026. The company, which gained a valuation of $8.1 billion following a $1.1 billion Series G round in September 2025, aims to use the new funding to enhance data center capacity and manufacturing, while emphasizing its performance advantages over Nvidia GPUs amid rising AI demand.