Cerebras Systems NASDAQ:CBRS shares climbed nearly 4% in premarket trading after the artificial intelligence infrastructure company outlined plans to expand its European footprint with new data center capacity, according to a Wednesday company statement.
Cerebras said it plans to invest several billion dollars to build AI infrastructure across France and the Nordic region. The company expects to bring its first European capacity online by the end of 2026 and target about 200 megawatts of total capacity by the end of 2027. Part of the infrastructure is expected to support workloads from partner OpenAI.
Cerebras said planned facilities in Norway and Finland will help meet growing customer demand for high-performance AI computing located in Europe. The company develops AI chips and computing systems designed for large-scale artificial intelligence applications.
Cerebras made its Nasdaq debut in May after selling 30 million shares in its initial public offering. The company says its Wafer-Scale Engine 3 processor delivers faster AI inference than traditional GPU-based systems while improving power efficiency. Its customer base includes Amazon Web Services NASDAQ:AMZN, Meta Platforms NASDAQ:META and IBM NYSE:IBM, alongside OpenAI.