Artificial intelligence chip manufacturer Cerebras Systems raises $5.55 billion in an IPO, the largest so far this year

Golden Finance reports that on May 14th, artificial intelligence chip manufacturer Cerebras Systems completed its initial public offering in the United States, raising $5.55 billion, capitalizing on the global surge in semiconductor demand. The company’s offering price was set at $185 per share, higher than the previous target price range. Cerebras raised its offering range and the number of shares on Monday; the original IPO plan was to issue 30 million shares, with a price range of $150 to $160 per share. Based on the number of shares issued and circulating shares in the registration documents, this pricing values Cerebras at approximately $40 billion. Calculations including restricted stock units, employee stock options, and warrants suggest the company’s fully diluted valuation is about $49 billion.
Data shows this IPO is the largest of the year so far. If Elon Musk’s space exploration company SpaceX raises $75 billion and goes public this summer, it could set the record for the largest IPO in history, while Cerebras’ new stock issuance has already taken place. (Sina Finance)