Cerebras lifts IPO price range to $150-$160 a share as AI chip demand surges
AI chip designer Cerebras raised the price range of its US initial public offering to between 150 and 160 dollars a share. The move comes after investor demand far exceeded the original range. The deal could value the company near 35 billion dollars.
AI chip designer Cerebras Systems lifted the price range of its US IPO in response to outsized demand. The company initially planned to price shares between 120 and 130 dollars. The new range is 150 to 160 dollars, putting its potential valuation near 35 billion dollars.
Sources said large asset managers including Fidelity and T. Rowe Price filled the book several times over. Cerebras, positioned as a Nvidia challenger, builds wafer-scale chips that differ from standard data-center GPUs. Global customers, including some in China, expressed interest in the listing.
The deal is expected to price on Thursday, with the first trade due on Nasdaq Friday. The Cerebras IPO confirms that appetite for AI infrastructure remains strong and that the listings window has reopened. Goldman Sachs and Morgan Stanley are leading the offering.
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