Cerebras targets $115-$125 per share in Nasdaq IPO
AI chipmaker Cerebras Systems plans to price its initial public offering between $115 and $125 per share, according to a person familiar with the matter. The company kicks off its roadshow Monday and aims to list on Nasdaq under the ticker "CBRS".
This is Cerebras' second attempt to go public. The company withdrew a previous IPO filing last October.
According to Bloomberg, Cerebras could raise up to $4 billion and reach a valuation around $40 billion. Morgan Stanley, Citigroup, Barclays and UBS are leading the offering.
The company's financial position
Cerebras reported revenue of $510 million in the year ended December 31, up from $290.3 million a year earlier. The company swung to profitability, posting earnings of $1.38 per share compared with a loss of $9.90 per share the prior year.
What Cerebras does
The Sunnyvale, California-based company makes wafer-scale engine chips designed to speed up training and inference for large AI models. It competes directly with Nvidia and other AI hardware manufacturers.
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