Cerebras has filed to go public, after withdrawing plans for an IPO last year.

The company, which develops wafer-scale semiconductors and operates its own cloud service, plans to go public on Nasdaq under the ticker symbol 'CBRS.'

In its Friday filing, Cerebras reported $87.9 million in net income on $510m in revenue during 2025. Revenue was up 76 percent from 2024 - with Cerebras reporting a $485m net loss at the time.

Cerebras has $24.6 billion in remaining performance obligations as of Dec. 31, with an expectation to recognize 15 percent of that in 2026 and 2027.

In January, the company announced a $10 billion deal with OpenAI. The generative AI company will use some 750 megawatts of computing power delivered through 2028. OpenAI could buy an additional 1.25 gigawatts through 2030, the IPO filing reveals.

The filing also discloses that Cerebras received a $1 billion loan from OpenAI, with a six percent annual interest rate, to build data center infrastructure and provide cloud services.

The OpenAI deal "represents a substantial portion of our projected revenues over the next several years," Cerebras said. OpenAI has the right to end part or all of its agreement with Cerebras if the company fails to provide computing power on time.

One concern raised during the company's prior IPO attempt (initially filed in 2024) was that 87 percent of the company’s revenue for the first six months of 2024 came from Abu Dhabi-based artificial intelligence and cloud computing company G42.

This time, Cerebras said that, in 2025, 24 percent of its revenue came from G42.

However, at the same time, UAE-based Mohamed bin Zayed University of Artificial Intelligence provided 62 percent of revenue in 2025. In a February 2026 deal to develop Cerebras systems in India, both G42 and the Mohamed Bin Zayed University partnered on the contract.

This February, Cerebras raised $1bn at a $23bn valuation.