Cerebras Systems, a Silicon Valley startup that specializes in making semiconductors optimized for artificial intelligence, is planning an initial public offering (IPO) to raise up to $1 billion. The company aims to list on the New York Stock Exchange and has selected Citigroup Inc. as its lead underwriter.
The IPO could value Cerebras at $7 billion to $8 billion, according to people familiar with the matter. The firm’s flagship product, CS-3, is designed to handle AI computing workloads and can be clustered together to power AI supercomputers.
Cerebras has received significant funding in recent years, including a $250 million series F financing round in 2021 that valued the company at over $4 billion. The round was led by Alpha Wave Ventures, Abu Dhabi Growth Fund, and G42, among others. Cerebras’ existing investors include Altimeter Capital, Benchmark Capital, and Coatue Management.
The IPO is set to be filed with the US Securities and Exchange Commission as early as Friday, pending the completion of an investor roadshow in the coming weeks. Market conditions and investor demand may still impact the size and timetable of the listing.
Source: https://finance.yahoo.com/news/cerebras-systems-targets-raising-1-184310868.html?guccounter=1&guce_referrer=aHR0cHM6Ly9uZXdzLmdvb2dsZS5jb20v&guce_referrer_sig=AQAAAGr5O7O_UPpZtmiuBtkqvMtsIq70u6FG0sB40yoGgZeX2JeaCarIEHr1t3IYg0UewPSw87q0Ge37PP-8dZq8ekNqdbr-nUN45BI8RDJbklKiu-WNlP0xGrC7sDMaAgsbXg26DkYzUSbo8FjsZpvyUvdwMm5aXJ4ELimGGvOJ29GB