Cerebras raised $5.55 billion in its IPO, and with the chipmaker's offering, investors are gearing up for some even bigger AI deals later this year.
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Cerebras Systems, a maker of artificial intelligence chips, priced its IPO at $185 a share on Wednesday, above the expected range, according to a person with knowledge of the matter. The deal comes as investors gear up for what's expected to be a very busy year for new AI offerings.
The IPO reeled in at least $5.55 billion for Cerebras, which is hitting the market during a silicon renaissance. Intel
, Advanced Micro Devices
and memory maker Micron
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The share sale could give the company a valuation of up to $24.5 billion, compared with $23 billion as of February.
