TechFlow News, May 11: According to CNBC, AI chip company Cerebras Systems is expected to raise the size and price range of its initial public offering (IPO) as early as Monday, increasing the offering price from $115–$125 per share to $150–$160 per share and raising the number of shares offered from 28 million to 30 million. At the upper end of the revised range, Cerebras could raise approximately $4.8 billion—up from the originally planned $3.5 billion. Sources indicate that IPO subscription demand has exceeded available shares by more than 20 times.
Cerebras expects to price its IPO on May 13 and plans to list on the Nasdaq Global Select Market under the ticker symbol “CBRS.”
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