AI startups and California-based companies have been scooping up an outsized share of venture funding for a while now, and this past week was no exception. Leading the ranks was Cerebras Systems, as the AI processor developer and potential IPO candidate picked up $1.1 in fresh funding. Other large rounds went to companies in areas including AI, enterprise software, cybersecurity, blockchain and biotech. 1. Cerebras Systems, $1.1B, AI hardware: Cerebras Systems, a developer of AI processors, announced that it raised $1.1 billion in Series G funding at an $8.1 billion post-money valuation. Fidelity and Atreides Management led the financing for the Sunnyvale, California-based company, which filed to go public last year. 2. (tied)Periodic Labs, $300M, AI: Silicon Valley-based Periodic Labs launched with $300 million in initial funding to develop AI models for science. Venture backers include Andreessen Horowitz, Felicis, DST, NVentures and Accel. 2. (tied) Vercel, $300M, cloud...
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