Artificial intelligence chipmaker Cerebras aims to raise as much as $3.5 billion by going public on the Nasdaq.
The company is looking to sell 28 million shares, for $115 to $125 each, according to an updated prospectus it filed on Monday.
At that range, Cerebras could be worth up to $26.6 billion in the initial public offering, based on shares outstanding. In February, the company announced a venture round that gave it a $23 billion valuation, with Advanced Micro Devices
among its investors.
Relatively few technology companies have gone public since central banks raised interest rates in 2022 to fight rising prices, making investors less interested in unprofitable names.
