AI Chipmaker Cerebras Climbs 68% After Year’s Biggest IPO
Cerebras Systems Inc. shares jumped 68% in its trading debut after raising $5.5 billion in the year’s largest IPO, illustrating investors’ surging appetite for artificial intelligence data centers and the chips running them.
Shares of the Sunnyvale, California-based company pared earlier gains to close at $311.07 each on Thursday in New York, above the $185 IPO price, after being halted earlier for volatility.
Cerebras’ first-time share sale raised nearly 60% more than its target when it launched, and priced above a marketed range that was revised higher on Monday.
Bloomberg's Ed Ludlow joins to discuss. (Source: Bloomberg)
Cerebras IPO valuation hits $67B
- Cerebras prices its IPO above range, raising $5.55 billion on AI chip frenzy Quartz —
- Cerebras to Kick Off Hotly Anticipated Year for Artificial-Intelligence IPOs Wall Street Journal —
- Cerebras Raises $5.55 Billion in Year’s Biggest IPO Bloomberg —
- AI Chipmaker Cerebras Expects to Price Its IPO at $185 Per Share Bloomberg —
- AI chipmaker Cerebras raises $5.55 billion in year’s biggest IPO 📹 Bloomberg — · 2min