There’s Another AI-Powered IPO in the Works. Here’s What You Should Know.
Cerebras Systems, a chipmaker for AI models, is planning an IPO, aiming to sell 28 million shares at $115-$125 apiece. The company is profitable, with $510 million in revenue and $237.8 million in profits last year.
Cerebras Systems, a chipmaker for advanced AI models, is preparing for an initial public offering (IPO). The company re-submitted its IPO documents to the Securities and Exchange Commission, aiming to sell 28 million shares at $115-$125 each. At the higher end of this range, Cerebras would raise $3.5 billion, with an implied market capitalization over $26 billion. Cerebras is profitable, having generated $510 million in revenue and $237.8 million in profits last year. The company's technology is endorsed by Sam Altman, founder of OpenAI, which is a customer and partner. Cerebras plans to list on the Nasdaq under the symbol 'CBRS'.
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