TechFlow News, May 13: Arm (ARM.O) and its majority shareholder SoftBank Group approached U.S.-based leading AI chip company Cerebras Systems weeks before its IPO, expressing interest in acquiring the company. According to sources familiar with the matter, Cerebras Systems declined the offer. Cerebras plans to price its IPO on Wednesday, with a potential valuation of approximately $34 billion. Earlier reports indicated that the company told prospective investors the IPO price is expected to exceed the top end of its $150–$160 per-share offering range; the final market capitalization may still be adjusted depending on the actual number of shares issued. Cerebras is poised to become the largest public listing so far this year, having previously signaled it could set the IPO price above the $150–$160 range if demand proves strong. (Jinshi)
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