AI inference chip company Cerebras Systems has raised $1.1 billion in an oversubscribed Series G funding round, valuing the company at $8.1 billion post-money. The round was led by Fidelity Management & Research Company and Atreides Management, with participation from Tiger Global, Valor Equity Partners, and 1789 Capital. The company said it will use the funds to expand its technology portfolio in AI processor design, system design, and AI supercomputers. They have seen the historic opportunity that is AI and have chosen to invest in Cerebras,” said Andrew Feldman, co-founder and CEO of Cerebras Systems. “Since our founding, we have tested every AI inference provider across hundreds of models.