Proclaiming itself the "pioneer" in generative artificial intelligence (AI), Cerebras and its stock have drawn increasing attention from AI investors, engineers, and aficionados. In March 2024, Cerebras introduced the Third Generation 5nm Wafer Scale Engine, or WSE-3, which the company claims is the fastest AI chip. It's no wonder Cerebras is garnering considerable interest from the AI community.
Artificial Intelligence
Is Cerebras publicly traded?
As of September 2025, Cerebras was not a publicly traded company; however, earlier in 2024, the company had submitted SEC Form S-1 indicating its plan to IPO in the near future.
Cerebras has held several funding rounds that have helped it to raise capital from investors like the Abu Dhabi Growth Fund and venture firm Benchmark Capital. After completing a Series F round in 2021, Cerebras had raised about $715 million in funding, according to Crunchbase.
In August 2025, it was revealed that the company is considering a private funding round to raise up to $1 billion, which would further delay a potential IPO.
IPO
How to buy Cerebras stock
For most investors, picking up shares of Cerebras before the IPO is not possible. People who qualify as accredited investors, on the other hand, may be able to buy Cerebras stock before its IPO. Some platforms, like Forge Global (FRGE -3.12%), allow accredited investors to buy shares of pre-IPO companies like Cerebras.
Although people who don't qualify as accredited investors may be unable to buy Cerebras stock, that doesn't mean they're completely out of luck. There are a variety of other AI stocks for them to consider.
1. Nvidia
One of the most obvious alternatives for prospective Cerebras investors is AI stalwart Nvidia (NVDA -1.35%), arguably Cerebras' most formidable competitor. With its Hopper Tensor Core GPU (graphic processing units), Nvidia was already an industry leader in supporting AI computing.
However, Nvidia upped its AI game in March 2024 with its X800 series network switches. The company characterizes the X800 switches as "end-to-end networking platforms that enable us to achieve trillion-parameter-scale generative AI essential for new AI infrastructures."
Despite its commanding position -- the company's market capitalization exceeded $4.18 trillion in September 2025 -- there's still a general consensus among investors that Nvidia has plenty of opportunities for growth ahead of it.
And since it generates massive amounts of cash, it represents an AI investment opportunity at the lower end of the risk spectrum. In fiscal year 2025, for instance, Nvidia reported a free cash flow of $60.7 billion.
Market Capitalization
2. Qualcomm
Instead of a competitor, investors may feel more compelled to pick up shares of a collaborator. Qualcomm (QCOM -0.65%) has partnered with Cerebras, allowing investors to indirectly gain exposure to the privately held company.
In March 2024, Cerebras announced it had selected Qualcomm's Cloud AI 100 Ultra, an AI inference card designed specifically for generative AI and large language models, to be used with its CS-3 AI accelerators for training to provide a superior AI solution.
Simply branding Qualcomm as an AI company would be giving it short shrift. As a leading semiconductor company, Qualcomm provides wireless solutions found in numerous applications, including smartphones, vehicles, and devices operating on the Internet of Things.
The company has a variety of available growth opportunities. While investors wait for these to play out, they can reap the rewards of the company's dividend, which had a forward yield of 2.24% as of September 2025.
Here's a brief guide on how to buy stocks.
- Open your brokerage account: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
Is Cerebras profitable?
Since Cerbras is privately held, it isn't required to report its financial results publicly. But based on the company's S-1 filing, Cerebras has not achieved profitability. Although the company is profitable on a gross profit basis -- it posted gross profits of $2.9 million and $26.4 million in 2022 and 2023, respectively -- Cerebras reported net losses in each of the previous two years.
While it's not reporting positive earnings, Cerebras deserves recognition for narrowing its losses. Through the first six months of 2024, Cerebras has a net loss of $66.6 million, representing an improvement over the net loss of $77.8 million that it reported during the same period in 2023.
Should I invest in Cerebras?
Cerebras is a privately held company, so it is not an investing option for most people. Since the company's submission of Form S-1, however, it appears that retail investors may not have to wait much longer before they can add this AI stock to their portfolio. Even when Cerebras stock does become available, investors must recognize the inherent risks, including the fact that the company is still unprofitable.
Accredited investors may be able to gain exposure to Cerebras currently. But even for them, a position in Cerebras carries a fair degree of risk, so they must be comfortable with a more speculative investment.
The bottom line on Cerebras
In light of the massive growth that the generative AI market is expected to experience over the next decade, it's unsurprising that investors have Cerebras on their radar. While the company has achieved noteworthy success, it's unclear how this success has translated to the company's financial health -- something investors will have a better sense of if the company proceeds with its plans to hold an IPO. In the meantime, investors have a variety of other AI stocks and ETFs they can consider.
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