US Top News and Analysis | Cerebras bumps up IPO range as it looks to raise up to $4.8 billion
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Cerebras Systems, an artificial‑intelligence chip maker, has widened its IPO price range to $150‑$160 per share, which could raise up to $4.8 billion and value the company at as much as $48.8 billion on a fully diluted basis. The higher valuation reflects strong demand, including a $20 billion commitment from OpenAI that relies on Cerebras chips for its code‑writing model, and a recent partnership with Amazon Web Services to place Cerebras hardware in its data centers. Nasdaq expects the IPO to occur on May 14. In court testimony, OpenAI co‑founder Greg Brockman said Cerebras’ chips represented the compute power needed for OpenAI models, and Elon Musk was reported to be open to a merger with Cerebras. CEO Andrew Feldman said it is “a good time to be in AI hardware.”
Read more: https://www.cnbc.com/2026/05/11/cerebras-raises-ipo-range.html
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