GoKawiilCerebras, a producer of chips that run artificial intelligence models, on Friday filed to go public on Nasdaq under the ticker symbol "CBRS."
Cerebras reported a $87.9 million in net income on $510 million in revenue during 2025, according to Friday's filing. Revenue grew nearly 76% from 2024, when the company had a $485 million net loss.
When Cerebras sought to go public the first time around in 2024, it said one company, Microsoft -backed G42, based in the United Arab Emirates, contributed 87% of revenue for the first half of that year. In 2025, 24% of Cerebras' revenue came from G42, Friday's filing showed. But another customer, Mohamed bin Zayed University of Artificial Intelligence, a public institution based in the United Arab Emirates, provided 62% of revenue in 2025.
For years, Cerebras sought to sell chips to companies, but it has begun operating the chips inside its own data centers as a cloud service on behalf of clients. The company now counts Amazon, Microsoft, Alphabet , Oracle and CoreWeave among its competitors.
In January, Cerebras touted plans to provide up to 750 megawatts of computing power to OpenAI through 2028. The deal is valued at over $20 billion, Cerebras said. OpenAI can buy an additional 1.25 gigawatts worth of computing power through Cerebras through 2030, according to the filing.
OpenAI's expanded relationship with Cerebras is worth over $20 billion, one person said. The Information previously reported on the arrangement.
In December, Cerebras issued OpenAI warrants to purchase up to 33.4 million shares of non-voting Class N stock, and in January, Cerebras received a $1 billion loan from OpenAI to build data center infrastructure and provide services as part of a broader agreement, according to the filing. The warrant only vests if OpenAI buys 2 gigawatts worth of computing power from Cerebras.
The OpenAI alliance "represents a substantial portion of our projected revenues over the next several years," Cerebras said. At the same time, OpenAI has the right to end part or all of its agreement with Cerebras if the chipmaker fails to provide computing power on time, or if its service falls below a certain threshold.
Another major expansion could be on the way.
On Oracle 's March earnings call, CEO Clay Magouyrk mentioned that the database and cloud company offers chips from Cerebras and other suppliers. But at the time, Oracle's price list did not contain references to Cerebras. Friday's filing did not mention any business with Oracle.
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