Cerebras Systems is reportedly preparing to sharply raise its IPO price range and expand its share sale.
Cerebras IPO valuation climbs amid soaring investor demand
Cerebras is considering increasing its IPO price range to $150 to $160 per share, up from its earlier target of $115 to $125, Reuters reported, citing sources.
The company is also reportedly boosting the number of shares offered to 30 million from 28 million.
At the upper end of the revised range, the Sunnyvale, California-based chipmaker could raise approximately $4.8 billion, significantly above its initial $3.5 billion target.
The company’s offering has reportedly attracted orders exceeding available shares by more than 20 times ahead of its expected May 13 pricing.
Cerebras did not immediately respond to Benzinga’s request for comments.
AI Boom Fuels Interest In Nvidia competitor
Cerebras has emerged as a notable rival to Nvidia Corp (NASDAQ:NVDA) by focusing on specialized processors optimized for AI inference rather than traditional training workloads.
As demand for deploying AI models accelerates, investors are increasingly betting on companies positioned to address next-generation computing needs beyond Nvidia’s dominant GPU business.
Previous IPO Hurdles And Major Customer Wins
This marks Cerebras’ second attempt to go public after shelving its 2024 IPO plans last year amid U.S. national security scrutiny tied to its revenue dependence on UAE-based G42.
Since then, Cerebras has strengthened its position by adding major customers, including Amazon.com, Inc. (NASDAQ:AMZN) and OpenAI.
If successful, Cerebras’ listing could become the world’s largest IPO of 2026 so far.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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