Valued at $4 billion in 2021, Cerebras is reportedly seeking to roughly double that in its IPO.
The customer, G42, is backed by Microsoft , and it's entirely responsible for the $1.43 billion purchase commitment.
G42 can pick up $500 million more in Cerebras shares if it commits to spend $5 billion on the company's computing clusters.
The major Wall Street banks, for their part, are finding other ways to play in the burgeoning AI infrastructure market.
Fitch, who said he sold out of his Nvidia stock years ago, told CNBC that the benefits outweigh the risks.
Persons:
Andrew Feldman, Ramsey Cardy, Cerebras, —, David Golden, it's, prepayment, CFIUS, Mike Gallagher, Gina Raimondo, Goldman Sachs, Morgan Stanley, JPMorgan Chase, Young, There's, Peter Thiel, Eva Marie Uzcategui, there's, Thiel, Jim Fitch, Fitch, Feldman
Organizations:
Cerebras Systems, Nvidia, Revolution Ventures, JPMorgan Chase, Microsoft, AstraZeneca, GlaxoSmithKline, Mayo Clinic, Treasury, Foreign Investment, Reuters, Chinese Communist Party, JPMorgan, Citigroup, Barclays, BDO, KPMG, Deloitte, Ernst, Riverstone Networks, CoreWeave, Clarium Capital Management LLC, Bloomberg, Getty, Mizuho Securities, Venture, CNBC, Devices
Locations:
Toronto, U.S, Sunnyvale , California, Abu Dhabi, China, Miami , Florida, Los Angeles, Florida