AI Chipmaker Cerebras Surges 108% in Trading Debut

Tiger Newspress01:03

AI chipmaker Cerebras Systems surged 108.1% in trading debut.

Cerebras Systems priced its U.S. initial public offering at $185 per share on Wednesday, above the top end of its indicated price range, the company said.

The IPO ​raised $5.55 billion for Cerebras, based on 30 million shares sold. It implies a valuation ​on Cerebras on a fully diluted basis of $56.43 billion, making it the ⁠largest stock market debut so far this year.

Founded in 2015, Cerebras makes specialized chips for ​running advanced AI models, competing in a market dominated by Nvidia. Demand ​for Cerebras' ⁠processors has surged as AI labs shift from training models to deploying them.

Revenue at Sunnyvale, California-based Cerebras rose to $510 million in the year ended December 31, from $290.3 million a year earlier, according ⁠to a ​filing with the SEC.

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Comments

  • kaz trader
    01:13
    kaz trader
    What is this company, why didnt Weiss or motley fool promote this share here, if Bollinger lines give U info and it is the future (ai) ai powerplants in space launched for E. Musks reusable rockets, if only one analysis were to suggest this before 100% profit eventuated  Maybe reports and stats can only show so much
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