Cerebras Systems, a startup competing with industry leader Nvidia for a slice of the lucrative AI chip market, said late on Monday its revenue surged more than threefold in 2023, in a filing to go public in the U.

Cerebras Systems, a Sunnyvale, Calif.-based AI chipmaker that wants to challenge Nvidia, filed for an IPO that could raise an estimated $600 million. Why it matters: A venture-backed tech unicorn wants to go public,

Cerebras Systems has filed to raise $100 million in an IPO of its Class A common stock, according to an SEC S-1 registration statement. Read more on CBRS IPO.