CNBC’s Jim Cramer said investors should be more selective when investing in the semiconductor rally.

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.

The offering is one of the largest U.S. tech IPOs in years and is seen as a wider stress test for a wave of AI listings Wall Street is bracing for later in the year.

Cerebras is taking advantage of a bull market for silicon, as the chipmaker becomes one of the most notable pureplay AI IPOs to date.

Cerebras stock (CBRS) price today: Cerebras makes a remarkable Nasdaq debut with a 90% stock surge, signaling intense investor interest in AI chips as competition escalates with…

CNBC’s Jim Cramer said investors should be more selective when investing in the semiconductor rally.

CNBC's Jim Cramer said Cerebras has a compelling AI story and promising technology, but warned the chipmaker’s valuation has become difficult to justify.