AI chipmaker Cerebras targets $115-$125 share price in US IPO, source says

Cerebras Systems, a rival to ​Nvidia , is scheduled to kick off its ‌IPO roadshow on Monday, with shares expected to be priced between $115 and $125, a source familiar with the matter ​told Reuters.

This marks Cerebras' second attempt to go ​public after withdrawing a previous IPO filing ⁠last October, News.Az reports, citing Reuters.

The company now aims to ​list on the Nasdaq under the ticker symbol "CBRS". According to a Bloomberg News report, opens new tab last week, Cerebras could raise ​up to $4 billion, targeting a valuation of around $40 ​billion.

The Sunnyvale, California-based company is known for its wafer-scale engine ‌chips, ⁠designed to speed up the training and inference of large AI models, placing it in direct competition with Nvidia and other AI hardware ​firms.

The company's revenue ​rose to $510 ⁠million in the year ended December 31, up from $290.3 million a ​year earlier. It also reported a profit ​of $1.38 ⁠per share, a turnaround from a loss of $9.90 per share a year earlier.

Morgan Stanley, Citigroup, Barclays ⁠and ​UBS are the lead underwriters ​for the offering.

News.Az 

By Faig Mahmudov