Cerebras Systems applies for a secret IPO in the United States, giving Nvidia competition

As it gets ready to take on industry titan Nvidia, artificial intelligence (AI) chipmaker Cerebras Systems has filed for a U.S. initial public offering.

The eight-year-old firm will pursue investors at a time when interest in artificial intelligence is still strong, which will help the businesses that provide the necessary infrastructure for chatbot training prosper.

However, Cerebras may have to contend with the competitive challenge posed by Nvidia, which momentarily overthrew Microsoft as the most valuable business in the world thanks to its supremacy in the AI sector and admission into the exclusive $1 trillion club.

The IPO will serve as a significant gauge of investor interest in AI-related stocks. Over the past month, some investors have moved out of the tech sector and into value companies due to worries about overpaying on AI.

Several well-known investors, including Coatue Management and Abu Dhabi Growth Fund, have supported Cerebras.

In order to keep their financial information private for as long as possible, companies usually file their IPO applications privately.