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Cerebras' blockbuster IPO boosts hype for SpaceX and OpenAI, but crowds out smaller players
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- Cerebras Systems' raucous IPO this week gave investors a taste of what's to come in artificial intelligence.
- Cerebras also holds the distinction of largest IPO of the year and the biggest offering for a U.S. tech company since Uber hit the market in 2019.
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Cerebras Systems' raucous IPO this week gave investors a taste of what's to come in artificial intelligence. But it also served as a reminder of how hard it is for non-AI companies to capture Wall Street's attention.
Shares of the AI chipmaker popped almost 70% in their market debut on Thursday, lifting the company's market cap to about $95 billion. Only two tech companies have ever closed their first day of trading in the U.S. with valuations of $100 billion or more: Alibaba and Facebook.
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