According to reports on Friday, May 8th, Cerebras Systems Inc. (CBRS) is planning to go public on Thursday, May 14th. This initial public offering (IPO) is anticipated to be the largest new stock issuance in the United States this year.
Filings submitted this week by the manufacturer of AI chips the size of "dinner plates" indicate an IPO pricing range of $115 to $125 per share. If priced at the upper limit, the fundraising amount could reach $3.5 billion.
Cerebras's chips occupy the entire surface of a single silicon wafer, whereas traditional processes typically etch dozens of chips onto one wafer. In January of this year, OpenAI entered into a collaboration agreement with Cerebras valued at over $10 billion. OpenAI holds warrants that could allow it to purchase more than 33 million shares of the company.
Cerebras had previously withdrawn its IPO plans last October before resubmitting its prospectus last month, aiming to list under the ticker symbol CBRS.
Cerebras, a Rival to Nvidia, Reportedly Set for IPO Next Week, Potentially the Largest in the U.S. This Year
According to reports on Friday, May 8th, Cerebras Systems Inc. (CBRS) is planning to go public on Thursday, May 14th. This initial public offering (IPO) is anticipated to be the largest new stock issuance in the United States this year.
Filings submitted this week by the manufacturer of AI chips the size of "dinner plates" indicate an IPO pricing range of $115 to $125 per share. If priced at the upper limit, the fundraising amount could reach $3.5 billion.
Cerebras's chips occupy the entire surface of a single silicon wafer, whereas traditional processes typically etch dozens of chips onto one wafer. In January of this year, OpenAI entered into a collaboration agreement with Cerebras valued at over $10 billion. OpenAI holds warrants that could allow it to purchase more than 33 million shares of the company.
Cerebras had previously withdrawn its IPO plans last October before resubmitting its prospectus last month, aiming to list under the ticker symbol CBRS.
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