To take market share from Nvidia, Cerberas would need to add application software that is more advanced and useful than Nvidia’s CUDA.

Cerebras Systems, an AI chipmaker that lists among its competitors tech giants Nvidia, Microsoft, and Intel, filed for an IPO Monday, looking to capitalize on widespread enthusiasm about the AI industry.

The much-anticipated IPO by Cerebras Systems — the first chip maker of the AI era to go public — also included information on the concentration of its customers, an issue investors are seeing at other AI hardware companies.