Nvidia competitor Cerebras plans to raise 3.5 billion USD through a US IPO

Golden Ten Data reported on May 4 that artificial intelligence chip manufacturer and data center operator Cerebras Systems plans to raise up to $3.5 billion through an initial public offering to compete with rivals in this highly sought-after industry. According to documents filed by the Sunnyvale, California-based company with the U.S. Securities and Exchange Commission, Cerebras is offering 28 million shares at a price of $115 to $125 per share. Cerebras had secretly submitted a listing application earlier this year, and just a few months before that, the company had withdrawn a previous registration application.