US-based AI chipmaker Cerebras Systems has priced its initial public offering (IPO) at $185 per share, marking one of the biggest tech listings of the year. The company is expected to begin trading on the Nasdaq stock exchange under the ticker “CBRS”.
The IPO received strong response from investors as interest in artificial intelligence companies continues to grow worldwide. Due to high demand, Cerebras increased both the share price and the number of shares offered before the listing.
Cerebras is known for building advanced AI chips designed for large-scale artificial intelligence tasks and high-performance computing. The company is considered one of the main competitors to AI chip giant NVIDIA.
Reports said the IPO could raise billions of dollars for the company and significantly boost its market valuation. Analysts believe investor confidence in AI infrastructure and semiconductor companies has remained strong because of the rapid expansion of generative AI technologies.
The California-based company has gained attention through major AI partnerships and infrastructure projects in recent months. It has also reported strong revenue growth as demand for AI computing power continues to increase globally.
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