Nvidia Competitor Cerebras Sprints to Nasdaq, Aims to Raise About $3.5 Billion, Price Range $115-$125 Per Share

BlockBeats News, May 4th. Artificial intelligence chip manufacturer Cerebras Systems has officially started the IPO process, planning to raise up to $3.5 billion through an initial public offering. According to documents filed with the U.S. Securities and Exchange Commission (SEC), the company will issue 28 million shares priced in the range of $115 to $125 per share, under the stock symbol "CBRS," and is set to be listed on the Nasdaq.

This marks Cerebras' second attempt at an IPO after withdrawing its listing application in October last year. From a financial perspective, the company has returned to profitability, with projected 2025 revenue of $5.1 billion, a year-on-year increase of approximately 76%, and earnings per share of $1.38 (compared to a loss of $9.90 the previous year).

The market is currently focused on validating this IPO's impact on the company's target valuation of around $40 billion. The underwriters include Morgan Stanley, Citi, Barclays, and UBS.