Cerebras founders, from left: Sean Lie, Gary Lauterbach, Michael James, Jean-Philippe Fricker and Andrew Feldman. Image: Rebecca Lewington
The pricing of the 30m class A common stock shares is significantly higher than was expected.
Cerebras Systems, the AI chipmaker aiming to rival Nvidia, is set to raise more than $5.5bn after pricing its US initial public offering (IPO) at $185 per share.
The pricing of the 30m class A common stock shares – set to begin trading today (14 May) as ‘CBRS’ on the Nasdaq Global Select Market – is significantly higher than was expected.
In early May, a $3.5bn raise through the sale of 28m shares at between $115 and $125 each was mooted. Last week, that estimate had grown to proceeds of up to $4.8bn at a range of $150-160 per share.
