Cerebras bumps up IPO range as it looks to raise up to $4.8 billion
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- Artificial intelligence chipmaker Cerebras Systems has increased the estimated price range for its initial public offering.
- At the high end of the new range, Cerebras would net up to $4.8 billion in proceeds through the IPO.
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Artificial intelligence chipmaker Cerebras Systems has increased the estimated price range for its initial public offering. It's now looking to sell at $150 to $160 per share, according to a Monday filing, up from the range of $115 to $125 that it disclosed last week.
At the high end of the new range, Cerebras would net up to $4.8 billion in proceeds through the IPO. The company could end up being worth up to $48.8 billion on a fully diluted basis. That's up from the $23 billion valuation the company announced in February as part of a funding round.