AI chipmaker Cerebras Systems has announced plans to begin the roadshow for its initial public offering in the United States. The company filed a registration statement with the SEC and plans to offer 28 million shares of its Class A common stock.
Cerebras said the shares are expected to be priced between $115 and $125 each. At the top of that range, the offering would raise about $3.5 billion. The company is also targeting a valuation of as much as $26.6 billion in the IPO.
Cerebras is a rival to Nvidia in the AI chip market. The company’s planned valuation is higher than the $23 billion valuation it reported in February. The underwriters will also have a 30-day option to buy additional shares.
What is Cerebras trying to do?
Cerebras is planning to sell shares to the public through an initial public offering, or IPO.
How much money could the IPO raise?
Cerebras could raise about $3.5 billion if the shares are priced at the top of the expected range.
What price range is Cerebras targeting?
The company expects to price shares between $115 and $125 each.
What valuation is Cerebras seeking?
Cerebras is targeting a valuation of up to $26.6 billion in the IPO.
Sources
Cerebras Systems Announces Launch of Initial Public Offering
Business Wire
Business Wire
SUNNYVALE, Calif.--(BUSINESS WIRE)--Cerebras Systems, Inc. (“Cerebras”) today announced that it plans to commence the roadshow for its proposed initial public offering of its Class A common stock. Cerebras has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commissio...
Cerebras Plans Up to $3.5 Billion IPO
WSJ
WSJ
Chip startup Cerebras Systems will offer 28 million shares in its planned initial public offering at a price of $115 to $125 a share, which would raise $3.5 billion at the upper end of the range.
AI chipmaker Cerebras targets $3.5 billion raise in IPO
CNBC
CNBC
Cerebras said it's looking to sell 28 million shares at $115 to $125 each in its initial public offering. The company would be worth as much as $26.6 billion, compared with $23 billion valuation as of February.
AI chipmaker Cerebras targets $115-$125 share price in US IPO, source says
Reuters
Reuters
AI chipmaker Cerebras Systems, a rival to Nvidia NVDA.O, is scheduled to kick off its IPO roadshow on Monday, with shares expected to be priced between $115 and $125, a source familiar with the matter told Reuters.
Cerebras Systems seeks up to $26.6B valuation in US IPO
Proactive Investors
Proactive Investors
Cerebras Systems is targeting a valuation of as much as $26.62 billion in its planned U.S. initial public offering, according to its prospectus filings.
OpenAI's cozy partner Cerebras is on track for a blockbuster IPO
TechCrunch
TechCrunch
In the long-running saga that is Cerebras Systems's IPO, the finish line is finally in sight. The AI chipmaker said on Monday that it is preparing to sell 28 million shares at $115 to $125 a share.
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