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The AI chipmaker boosted its share count and price range after the IPO book was oversubscribed by roughly 20 times, pushing its expected valuation to $33 billion.
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Cerebras Systems just did something companies dream about in the weeks before going public: it made the offering bigger because too many investors wanted in.
The AI chipmaker upsized its initial public offering to 30 million shares priced between $150 and $160 per share, targeting up to $4.8 billion in capital raised. That is a meaningful jump from the original plan of 28 million shares at $115 to $125 apiece.
