Cerebras Boosts IPO Size and Price as AI-Chip Demand Surges

Cerebras Systems is planning to raise the size and price of its IPO, considering a new price range of $150-$160 per share and up to 30 million shares, potentially pulling in about $4.8 billion, as demand for AI chips remains strong; the offering is set for Nasdaq under the symbol CBRS with pricing expected May 13, and orders have run more than 20x the available shares. The company counts Amazon and OpenAI among customers and previously paused its 2024 IPO after a CFIUS review of its G42 partnership, which has since been cleared.