Cerebras Systems

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Cerebras Systems is a company that builds Wafer‑Scale Engine and related specialized compute hardware and software. Recent coverage highlights its FY2025 results—$510.0M revenue, $237.8M net income (46.6% net margin) and -$392.8M free cash flow—notes it accounted for about 6% of $90B in 2026 US VC-backed IPO proceeds, and compares its rising revenue and reported large operating losses with peers like CoreWeave and BigBear.ai.

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Software IPOs dominated by SpaceX

Crunchbase reports about $90B in US venture-backed tech IPOs in 2026, but 83% came from SpaceX and 6% from Cerebras Systems; the other 21 listings raised under $10B collectively, with energy, defense and space prominent while enterprise software was largely absent.

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