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Cerebras files for IPO as demand for AI chips soars

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Top stories today:

  1. Cerebras files for IPO as demand for AI chips soars
  2. SoftBank said to put $500M in OpenAI’s upcoming $6.5B round
  3. Fed chair Powell says not “in a hurry,” suggesting 25 bps cut in Nov.
  4. Epic Games sues Google, Samsung over alleged app store collusion
  5. MIT-spinoff Liquid unveils non-transformer language models

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).

All times are ET.

1. Cerebras files for IPO as demand for AI chips soars

  • $1B could be raised through the IPO.

  • $7B - $8B valuation expected.

  • Oct.: when a NASDAQ listing is expected.

  • G42 accounts for 87% of Cerebras’ H1 2024 revenue.

  • Cerebras offers its Wafer-Scale Engine 3, which takes on NVIDIA's H100.

2. SoftBank said to put $500M in OpenAI’s upcoming $6.5B round

OpenAI is said to be valued at $150B pre-money:

  • The deal would be SoftBank’s first investment in OpenAI.

  • SoftBank’s second Vision Fund is said to make the financing.

  • Thrive Capital is rumored to lead the round with over $1B investment.

  • SoftBank isn’t a super active AI/LLM investor, despite owning a majority stake in ARM.

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4. Fed chair Powell says not “in a hurry,” suggesting 25 bps cut in Nov.

5. Epic Games sues Google, Samsung over alleged app store collusion

Epic Games alleged Samsung restricted 3rd-party app stores using its pre-installed Auto Blocker feature on Galaxy devices:

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