This week, AI chipmaker Cerebras Systems announced that it raised $1 billion in fresh capital at a valuation of $23 billion — a nearly threefold increase from the $8.1 billion valuation the Nvidia rival had reached just six months earlier.
While the round was led by Tiger Global, a huge part of the new capital came from one of the company’s earliest backers: Benchmark Capital. The prominent Silicon Valley firm invested at least $225 million in Cerebras’ latest round, according to a person familiar with the deal.
Benchmark first bet on 10-year-old Cerebras when it led the startup’s $27 million Series A in 2016. Since Benchmark deliberately keeps its funds under $450 million, the firm raised two separate vehicles, both called ‘Benchmark Infrastructure,’ according to regulatory filings. According to the person familiar with the deal, these vehicles were created specifically to fund the Cerebras investment.
Benchmark declined to comment.
What sets Cerebras apart is the sheer physical scale of its processors. The company’s Wafer Scale Engine, its flagship chip announced in 2024, measures approximately 8.5 inches on each side and packs 4 trillion transistors into a single piece of silicon. To put that in perspective, the chip is manufactured from nearly an entire 300-millimeter silicon wafer, the circular discs that serve as the foundation for all semiconductor production. Traditional chips are thumbnail-sized fragments cut from these wafers; Cerebras instead uses almost the whole circle.
This architecture delivers 900,000 specialized cores working in parallel, allowing the system to process AI calculations without shuffling data between multiple separate chips (a major bottleneck in conventional GPU clusters). The company says the design enables AI inference tasks to run more than 20 times faster than competing systems.
The funding comes as Cerebras, based in Sunnyvale, Calif., gains momentum in the AI infrastructure race. Last month, Cerebras signed a multi-year agreement worth more than $10 billion to provide 750 megawatts of computing power to OpenAI. The partnership, which extends through 2028, aims to help OpenAI deliver faster response times for complex AI queries. (OpenAI CEO Sam Altman is also an investor in Cerebras.)
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Cerebras claims its systems, built with its proprietary chips designed for AI use, are faster than Nvidia’s chips.
The company’s path to going public has been complicated by its relationship with G42, a UAE-based AI firm that accounted for 87% of Cerebras’ revenue as of the first half of 2024. G42’s historical ties to Chinese technology companies triggered a national security review by the Committee on Foreign Investment in the United States, bumping back Cerebras’ initial IPO plans and even prompting the outfit to withdraw an earlier filing in early 2025. By late last year, G42 had been removed from Cerebras’ investor list, clearing the way for a fresh IPO attempt.
Cerebras is now preparing for a public debut in the second quarter of 2026, according to Reuters.
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![‘Backrooms’ Wants You Back and Is Adding More Rooms (Footage)
Backrooms, the surprise hit of the summer, wants you back in the room. And by room, we mean theater. Its distributor, A24, is reportedly gearing up to release a new version of the film with 15 extra minutes of footage starting on July 3. According to the AMC Theaters website, the Backrooms: Everything Must Go Edition “includes 15 minutes of new, theatrically exclusive post-credit bonus footage from [director] Kane Parsons.” What exactly is in that footage, we don’t know, and surely A24 is hoping you go to the theater to find out. We would be very, very surprised, though, if it expands too greatly on the mythology of the world or its creepy, ambiguous ending. That’s certainly the hope, but with a sequel almost certainly on the way, we’d imagine most secrets will be held until then. And yet, what about Backrooms has been traditional so far? We’re just speculating. It could very well be a whole new ending with twists and turns about what exactly the backrooms are, where they came from, and what their purpose is. The move comes as the summer season really heats up with the upcoming releases of Minions & Monsters, The Odyssey, and Spider-Man: Brand New Day over the next few weeks. Currently, Backrooms sits at about $185 million domestically but grossed only about $4 million this past weekend, good enough for sixth place.
Adding additional footage to get a few more repeat viewings is probably aimed at crossing the $200 million mark domestically, which would be an incredible feat. Not that grossing over $185 million in the U.S. and over $330 million worldwide isn’t already an incredible feat on its own.
Are you ready to head back to the theater to see more Backrooms? Is there anything that could be added that would be a disappointment? Let us know below. And to check if the Backrooms: Everything Must Go Edition is coming to your local theater, check its ticketing website. Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who. #Backrooms #Adding #Rooms #FootageBackrooms,Kane Parsons ‘Backrooms’ Wants You Back and Is Adding More Rooms (Footage)
Backrooms, the surprise hit of the summer, wants you back in the room. And by room, we mean theater. Its distributor, A24, is reportedly gearing up to release a new version of the film with 15 extra minutes of footage starting on July 3. According to the AMC Theaters website, the Backrooms: Everything Must Go Edition “includes 15 minutes of new, theatrically exclusive post-credit bonus footage from [director] Kane Parsons.” What exactly is in that footage, we don’t know, and surely A24 is hoping you go to the theater to find out. We would be very, very surprised, though, if it expands too greatly on the mythology of the world or its creepy, ambiguous ending. That’s certainly the hope, but with a sequel almost certainly on the way, we’d imagine most secrets will be held until then. And yet, what about Backrooms has been traditional so far? We’re just speculating. It could very well be a whole new ending with twists and turns about what exactly the backrooms are, where they came from, and what their purpose is. The move comes as the summer season really heats up with the upcoming releases of Minions & Monsters, The Odyssey, and Spider-Man: Brand New Day over the next few weeks. Currently, Backrooms sits at about $185 million domestically but grossed only about $4 million this past weekend, good enough for sixth place.
Adding additional footage to get a few more repeat viewings is probably aimed at crossing the $200 million mark domestically, which would be an incredible feat. Not that grossing over $185 million in the U.S. and over $330 million worldwide isn’t already an incredible feat on its own.
Are you ready to head back to the theater to see more Backrooms? Is there anything that could be added that would be a disappointment? Let us know below. And to check if the Backrooms: Everything Must Go Edition is coming to your local theater, check its ticketing website. Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who. #Backrooms #Adding #Rooms #FootageBackrooms,Kane Parsons](https://gizmodo.com/app/uploads/2026/06/Backrooms-furnature-pile-1280x853.jpg)

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