June 23 (Reuters) – Cerebras Systems’s first-quarter revenue nearly doubled, its first financial update since going public showed on Tuesday, as it benefited from robust enterprise demand for its specialized AI chips.
Cerebras is poised to benefit from rising demand for high-speed processing to train AI models and particularly for AI inference, or the process of running the models in real time.
The chip designer is focused on inference, the process by which AI systems respond to user queries, and has tied much of its growth to OpenAI, including a $20 billion multi-year deal under which the ChatGPT creator will deploy 750 megawatts of Cerebras chips.
The company reported revenue of $193.4 million for the quarter, compared with $99.5 million reported in the same period a year ago.
(Reporting by Juby Babu in Mexico City; Editing by Sahal Muhammed)