Alpha Wave Ventures and Abu Dhabi Growth Fund led a $250m Series F round in Cerebras Systems.

Alpha Wave Ventures, a private equity and venture capital arm of the Alpha Bank, and Abu Dhabi Growth Fund, a provider of financial aid, led a $250m Series F round in Cerebras Systems, a developer of compute landscape by accelerating artificial intelligence. Additional investors included Altimeter Capital, Benchmark Capital, Coatue Management, Eclipse Ventures, Moore Strategic Ventures and VY Capital. “The Cerebras team and our extraordinary customers have achieved incredible technological breakthroughs that are transforming AI, making possible what was previously unimaginable. This new funding allows us to extend our global leadership to new regions, democratizing AI, and ushering in the next era of high-performance AI compute to help solve today’s most urgent societal challenges – across drug discovery, climate change, and much more," Andrew Feldman, Cerebras Systems CEO and Co-Founder.