Cerebras eyes $4.8B IPO with $150-$160 range and 30 million shares
Business
Cerebras Systems is considering raising its IPO price to $150 to $160 per share (up from $115 to $125) and increasing the number of shares marketed to 30 million, aiming to raise up to $4.8 billion.
That is a big jump from the earlier $3.5 billion estimate, all thanks to massive interest in its AI chips.
Processor orders exceed IPO supply
Orders for Cerebras's AI processors, used for running complex AI models, have shot past 20 times the number of shares available in the IPO offering.
With hype this high, final pricing is set for May 13. If it goes as planned, this could be this year's biggest IPO worldwide.
The company, seen as a rival to NVIDIA, already counts Amazon and OpenAI among its clients and will trade on Nasdaq under CBRS.