Cerebras Systems on Friday filed for an initial public offering on Nasdaq under the ticker "CBRS."

As per the SEC filing, the company reported net income of $87.9 million on revenue of $510 million in 2025, compared with a net loss of $485 million a year earlier. Revenue rose about 76% year over year. Remaining performance obligations totaled $24.6 billion as of Dec. 31, it said.

Cerebras said customers in the United Arab Emirates accounted for a large share of revenue, including Mohamed bin Zayed University of Artificial Intelligence, which contributed 62% in 2025, and G42, which accounted for 24%.

The company said it is expanding beyond chip sales into cloud-based AI compute services and counts Amazon.com (AMZN), Microsoft (MSFT), Alphabet (GOOG) (GOOGL), Oracle Corporation (ORCL) and CoreWeave (CRWV) among competitors.

Cerebras also disclosed a multiyear agreement potentially worth more than $20 billion to supply computing capacity to OpenAI through 2028.