AI chip maker Cerebras Systems raises $1 billion in late-stage funding

​AI chipmaker ⁠Cerebras Systems said on Wednesday it raised $1 ‌billion ‌in a late-stage ‌funding round that valued it at $23 billion.

The round was ​led by ​Tiger Global. ‌Other ‍investors included Benchmark, ‍AMD, Coatue and Donald ‌Trump Jr.-backed 1789 Capital.

AI-linked companies have continued to draw billions ‍in private financing as corporations ‍and ⁠governments ⁠race to scale the still-nascent technology. (Reporting by Ateev Bhandari and Manya Saini in Bengaluru; Editing by Tasim Zahid)