05:39 AM EDT, 10/01/2024 (MT Newswires) -- Cerebras Systems filed for an initial public offering Monday.

The artificial intelligence-chip maker did not disclose the terms or size of the proposed offering, but said it is competing with industry heavyweights including Nvidia ( NVDA ) .

In its filing with the US Securities and Exchange Commission, Cerebras said it has applied to trade on the Nasdaq under the ticker symbol "CBRS."

The company also disclosed that its sales increased to $136.4 million in H1 of 2024, up from $8.7 million a year earlier.