How Cerebras survived near-failure to reach a $60 billion IPO
Cerebras Systems went public with a valuation of about $60 billion, marking a turnaround from its near-collapse in 2019 when it burned nearly $200 million on technical hurdles.
Sections
Markets & Business
458 storiesGoPro explores potential sale amid defense pivot
GoPro has hired an investment bank to evaluate a potential sale while simultaneously pivoting to the defense sector and laying off a quarter of its workforce.
Cerebras IPO delivers multi-billion dollar win for Benchmark
The Cerebras Initial Public Offering (IPO) generated billions for investors, including Benchmark, marking a significant milestone for the AI chipmaker after years of development and regulatory scrutiny.
Cerebras stock jumps 108% in market debut
Cerebras Systems raised $5.5 billion in its IPO, with shares rising 108% on their first day of trading to reach a $66 billion valuation.
Cisco to cut nearly 4,000 jobs to fund AI and security pivot
Cisco is cutting nearly 4,000 jobs, or around 5% of its workforce, to shift its cost structure toward AI and cybersecurity investments despite reporting record quarterly revenue.
Uber expands India footprint with new campuses and data center
Uber plans to open two new campuses in India by 2027, accommodating around 9,600 people, while partnering with Adani Group for its first local data center.
Clio hits $500M ARR as legal tech AI competition heats up
Canada-based legal tech firm Clio reached $500 million in annual recurring revenue (ARR), highlighting sector growth as AI model providers like Anthropic begin competing with customers.
Fervo Energy valuation tops $10 billion in geothermal IPO
Fervo Energy’s valuation surpassed $10 billion in its public debut, as the geothermal startup raised $1.89 billion amid demand for AI data center power.
Anthropic overtakes OpenAI in business customer adoption
According to Ramp expense data, Anthropic has surpassed OpenAI in verified business customer adoption, though the index is not a perfect proxy for the broader market.
Robinhood prepares to launch second retail venture fund
Robinhood has filed for a second retail venture fund, RVII, aiming to provide retail investors access to growth-stage and early-stage startups.
General Motors cuts more than 10% of IT staff to pivot toward AI
General Motors has laid off more than 10% of its IT department, or about 600 employees, as it pivots to hire staff with AI-native development skills.
Redwood Materials hires former Tesla CFO Deepak Ahuja
Redwood Materials has hired former Tesla finance chief Deepak Ahuja as CFO, though the company says it is too early to discuss a potential IPO.
Fintech startup Parker files for Chapter 7 bankruptcy
Parker, a fintech startup that raised more than $200 million, has filed for Chapter 7 bankruptcy and is widely reported to have shut down following failed acquisition talks.
Oracle rejects severance negotiations after mass layoffs
Oracle reportedly laid off an estimated 20,000 to 30,000 employees, refusing to negotiate severance terms or accelerate stock vesting for those impacted.
Tech liquidity fuels record-breaking San Francisco home prices
San Francisco luxury home sales jumped 22% year-over-year as liquidity from private tech company employees fuels aggressive bidding and record-breaking property prices.
Intel stock surges despite internal turnaround challenges
Intel’s stock has surged 490% over the past year, though Wall Street’s optimism may be running ahead of the chipmaker’s actual manufacturing turnaround.
Cloudflare cuts 20% of staff citing AI productivity gains
Cloudflare is cutting approximately 20% of its global workforce, citing AI-driven productivity gains, even as the company reports record quarterly revenue of $639.8 million.
Porsche to close three subsidiaries in strategic overhaul
Porsche is closing three subsidiaries and cutting more than 500 jobs as part of a strategic realignment to address declining sales and profits in key markets.
Truecaller to cut 15% of workforce amid revenue decline
Truecaller will cut roughly 15% of its workforce after a 27% drop in Q1 net sales, driven by regulatory shifts in India and changes to advertising algorithms.
Lime files for IPO to address debt load
Uber-backed micromobility company Lime has filed for an IPO on the Nasdaq, citing a need to raise funds to address significant debt and liquidity challenges.