Cerebras prices IPO above expected range, as Wall Street braces for AI tsunami
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- Cerebras Systems, a maker of artificial intelligence chips, priced its IPO at $185 a share on Wednesday, above the expected range, according to a person with knowledge of the matter.
- The IPO reeled in at least $5.55 billion for Cerebras, which is hitting the market during a silicon renaissance.
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Cerebras Systems, a maker of artificial intelligence chips, priced its IPO at $185 a share on Wednesday, above the expected range, according to a person with knowledge of the matter. The deal comes as investors gear up for what's expected to be a very busy year for new AI offerings.
The IPO reeled in at least $5.55 billion for Cerebras, which is hitting the market during a silicon renaissance. Intel, Advanced Micro Devices and memory maker Micron are each up more than 80% in the past month, and have notched much more dramatic gains over the last year as investors spread their chip bets from Nvidia to the wider universe of semiconductor companies now benefiting from the AI boom.