"Nvidia Challenger" Cerebras to go public next week, on-chain Pre-IPO price rises 17.8% in 24 hours, surpassing $290

BlockBeats news: On May 9, Cerebras, an AI chip manufacturer nicknamed the “Nvidia challenger,” plans to go public on May 14, with its shares to be listed under the stock ticker CBRS. The IPO pricing range is $115 to $125 per share; if priced at the upper limit, the total funds raised will be $3.5 billion. In January, OpenAI signed a cooperation agreement worth more than $10 billion with Cerebras, and OpenAI holds warrants that allow it to purchase more than 33 million shares.

Cerebras’ chip features occupy the full surface of an entire silicon wafer, while traditional processes typically etch dozens of chips on the same wafer. Cerebras’ monolithic wafer-level design integrates 4 trillion transistors and approximately 900,000 AI-optimized cores; on-chip memory reaches up to 44 GB, and memory bandwidth reaches 21 PB/s—far exceeding GPUs by thousands of times. This completely eliminates the communication bottlenecks between traditional chips, and is especially suitable for ultra-large-scale AI training and inference, enabling efficient processing of trillion-parameter models.

Currently on Hyperliquid’s Perp DEX Trade.xyz, Cerebras’ pre-IPO price has risen 17.8% over the past 24 hours, and is now quoted at $290.77 per share. The 24-hour trading volume is $2.58 million, and the value of open interest is $8.07 million.