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

Cerebras Systems Inc., a maker of chips and other tech infrastructure for artificial intelligence, filed for an initial public offering on Monday, as more startups look to make a name for themselves in a space occupied by tech juggernauts like Nvidia Corp.

As the largest beneficiary of the generative AI surge, Nvidia's dominance has attracted a wave of challengers. The recent initial public offering (IPO) filing by Cerebras signals growing efforts to challenge Nvidia's control over supply and pricing in the AI chip market.