AI chipmaker Cerebras increases its IPO price range and share count as orders exceed supply by over 20 times.
Cerebras Systems plans to raise its initial public offering price range to $150-$160 per share, up from $115-$125, and increase the number of shares offered to 30 million from 28 million. The move follows surging demand for its AI-focused chips, with orders exceeding available shares by more than 20 times.
At the new range’s top end, the company could raise approximately $4.8 billion, compared with $3.5 billion under the original terms. The adjustment reflects heightened investor interest in semiconductor firms amid a broader AI adoption wave, which has intensified competition for high-performance chips.
The IPO is set to price on May 13, with final figures subject to change. Cerebras, based in Sunnyvale, California, specializes in chips designed for advanced AI models, competing in a market led by Nvidia.