Nvidia competitor Cerebras made a stunning debut on Wall Street Thursday, signaling unstoppable demand for AI chips. Here's how its chips compete with Nvidia's.

Cerebras Systems upsized its IPO to 30 million shares at $150-$160 each, targeting $4.8B with a $33B valuation as the book was oversubscribed roughly 20x.

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.

Company raised $5.55bn from sale of 30 million shares

Cerebras Systems, the AI chipmaker rival to Nvidia, is set to raise more than $5.5bn after pricing its US IPO at $185 per share.

It topped expectations that were already high.

Cerebras starts trading on Nasdaq Global Select Market on Thursday under the ticker symbol 'CBRS'.

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