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Cerebras Plans to Raise IPO Price Range to $150-$160
Cerebras will increase the price range for its initial public offering to $150-$160 per share from a prior range, according to people familiar with the matter. The move follows strong investor demand for the artificial intelligence chipmaker's shares. The company is set to price its IPO later this week.
May 10, 6:01 PM·1m read1 source
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Cerebras is raising the proposed price range for its initial public offering to between $150 and $160 per share, people familiar with the matter said. The increase reflects surging demand from investors for the shares of the artificial intelligence infrastructure company.
The company had previously set a lower price range for the offering. It now expects to price the IPO as soon as this week, the people said. The shares would begin trading on the Nasdaq under the ticker symbol CBRA if the offering proceeds as planned.
Cerebras develops computers designed specifically for artificial intelligence model training and inference. The company has positioned itself as a competitor to Nvidia in the market for specialized AI hardware. It sells systems to major technology companies, research institutions and government agencies seeking alternatives for large-scale AI workloads.
Investor interest has grown as the broader market for AI-related stocks has remained elevated. The revised price range would value Cerebras at a higher level than initially anticipated when the company first filed its IPO paperwork. The offering comes at a time when several technology companies have pursued public listings amid renewed appetite for growth stocks tied to artificial intelligence.
Final terms of the deal, including the exact number of shares to be sold, have not yet been disclosed. Cerebras has not commented publicly on the updated price range.
