Tiger Global Management invests $663M in Cerebras Systems, signaling AI chip market shift

Tiger Global Management just wrote a $663 million check for Cerebras Systems, the AI chip startup that builds processors the size of dinner plates. The investment, disclosed in the firm’s Q2 2026 13F filing on August 14, makes Cerebras the 12th-largest holding in Chase Coleman’s portfolio. What makes this interesting isn’t just the size of the bet. It’s what Coleman sold to fund it. The billionaire trimmed his Nvidia position in the same quarter, a move that reads less like portfolio rebalancing and more like a declaration of where he thinks the AI hardware race is headed. The deal in context Tiger Global picked up roughly 3 million shares of Cerebras at an average cost that works out to around $221 per share. But this isn’t Coleman’s first date with the company. Back in February 2026, Tiger Global led Cerebras’ $1 billion Series H funding round, which valued the chipmaker at $23 billion post-money. Other investors in that round included Benchmark, Fidelity, and AMD. A Schedule 13G filed in May 2026 revealed the full scope of Coleman’s conviction. Tiger Global entities and Charles P. Coleman III collectively held 3.496 million shares, representing 9.99% of Cerebras’ Class A common ...