Arm and SoftBank previously proposed an acquisition offer before Cerebras' IPO, but were rejected.

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Deep Tide TechFlow News, May 13 — Arm (ARM.O) and its major shareholder SoftBank Group contacted the company a few weeks before the IPO of top U.S. AI chip company Cerebras Systems, expressing an acquisition interest. According to sources familiar with the matter, Cerebras Systems rejected the proposal. Cerebras plans to set its IPO price on Wednesday, with a company valuation potentially reaching around $34 billion. Previously, it was reported that the company told potential investors that the IPO price is expected to be above the upper limit of its offering range, and the final market value may still be adjusted based on the actual number of shares issued. Cerebras is expected to be the largest IPO transaction so far this year, having previously hinted that, in the case of strong market demand, the IPO price could be set above the $150 to $160 offering range. (Jin10)

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