Cerebras S1 feels like required reading for a pulse check on the AI industry

Some notable stats
- Revenue grew from $25M in 2022 to $79M in 2023
- First 6mo of 2024 have revenue of $136M 
- 87% of revenue came from 1 (!!) customer
- That customer is G42, an AI holding co established in 2018 and based in the UAE
- Cerebras itself was founded in 2016; didn't start generative revenue until 2019
- Cerebras had an operating loss of $42M for the first 6mo of 2024. With only $91M cash on the balance sheet, and having raised 6+ rounds of private financing, almost feels like going public is a last resort
- Last private valuation was $4.25B (in 2021). Will be interesting to see where the public markets price it

Investing @variant, writing at https://backoftheenvelope.substack.com/

I read somewhere that a single unit costs >$3m. So they made like 45 in 2024, 39 for their largest customer. 

I wonder where I can generate some cat pictures with a Cerebras chip