business
Cerebras almost doubles in Nasdaq debut, topping $100 billion market cap after blockbuster IPO
Key takeaways
- Livestream Menu Make Itselect USAINTLLivestream Search quotes, news & videos Livestream Watchlist SIGN INCreate free account Markets Business Investing Tech Politics Video Watchlist Investing Club PROLivestream Menu
- Cerebras Systems soared in its Nasdaq debut on Thursday, opening at $350 after selling shares at $185, well above the company's expected range.
- The company sold 30 million shares in its offering late Wednesday, raising $5.55 billion, the largest IPO for a U.S. tech company since Uber's debut in 2019.
Livestream Menu Make Itselect USAINTLLivestream Search quotes, news & videos Livestream Watchlist SIGN INCreate free account Markets Business Investing Tech Politics Video Watchlist Investing Club PROLivestream Menu
Cerebras Systems soared in its Nasdaq debut on Thursday, opening at $350 after selling shares at $185, well above the company's expected range. That values the chipmaker at over $100 billion.
The company sold 30 million shares in its offering late Wednesday, raising $5.55 billion, the largest IPO for a U.S. tech company since Uber's debut in 2019. If underwriters exercise their option to buy 4.5 million additional shares, total proceeds could reach $6.38 billion.
Article preview — originally published by CNBC. Full story at the source.
Read full story on CNBC →
More top stories
Also covered by
Yahoo Finance
Cerebras Stock Nearly Doubles In Blockbuster IPO
NY Times
Cerebras, A.I. Chip Maker, Rises 89% in Market Debut
Fortune
Cerebras CEO says AI chip demand is ‘not speculative’ as shares double in blockbuster IPO debut
Bloomberg Tech
AI Chipmaker Cerebras Systems Surges 81% in Trading Debut
Aggregated and edited by the Scoop newsroom. We surface news from CNBC alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop