Cerebras Systems is preparing to refile its IPO paperwork this week, targeting roughly $3 billion in proceeds at a valuation exceeding $35 billion — a 60% premium to its $22 billion February private round — according to The Information. The revaluation tracks a reported commitment from OpenAI to spend more than $20 billion on Cerebras chip servers over three years, with warrants that could yield OpenAI roughly a 10% stake if total spending reaches $30 billion. Cerebras previously withdrew an earlier S-1 over regulatory scrutiny tied to its UAE-based anchor investor G42.