Cerebras Systems, an AI chipmaker headquartered in Sunnyvale, California, has announced its filing for a US initial public offering (IPO), marking its second attempt after withdrawing a previous filing last year. The company aims to compete with Nvidia by offering a unique type of AI chip that minimizes reliance on high-bandwidth memory, a significant bottleneck in the industry. Cerebras has reported a revenue increase to $510 million for the year ending December 31, up from $290.3 million the previous year, and has turned a profit of $1.38 per share, reversing a loss of $9.90 per share from the previous year. The company has also secured a substantial $20 billion multi-year deal with OpenAI, which will utilize 750 megawatts of Cerebras chips. The IPO filing comes at a time when the market for tech listings is showing signs of recovery, particularly for companies linked to artificial intelligence. Cerebras plans to list its shares on the Nasdaq under the ticker symbol 'CBRS', with major financial institutions such as Morgan Stanley and Citigroup acting as lead underwriters for the offering.