{"id":26555,"date":"2026-05-04T11:10:10","date_gmt":"2026-05-04T11:10:10","guid":{"rendered":"https:\/\/www.europesays.com\/ai\/26555\/"},"modified":"2026-05-04T11:10:10","modified_gmt":"2026-05-04T11:10:10","slug":"ai-chipmaker-cerebras-targets-3-5-billion-raise-in-ipo","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ai\/26555\/","title":{"rendered":"AI chipmaker Cerebras targets $3.5 billion raise in IPO"},"content":{"rendered":"

Nikolas Kokovlis | Nurphoto | Getty Images<\/p>\n

Artificial intelligence<\/a> chipmaker Cerebras<\/a> aims to raise as much as $3.5 billion by going public on the Nasdaq.<\/p>\n

The company is looking to sell 28 million shares, for $115 to $125 each, according to an updated prospectus<\/a> it filed on Monday. <\/p>\n

At that range, Cerebras could be worth up to $26.6 billion in the initial public offering, based on shares outstanding. In February, the company announced a venture round that gave it a $23 billion<\/a> valuation, with Advanced Micro Devices<\/a> among its investors.<\/p>\n

Relatively few technology companies have gone public since central banks raised interest rates in 2022 to fight rising prices, making investors less interested in unprofitable names. <\/p>\n

But with the ascent of generative AI products such as OpenAI<\/a>‘s ChatGPT<\/a>, investors have become rabid about betting on companies that benefit from the trend. Money-losing Cerebras competitor CoreWeave<\/a>, which rents out Nvidia<\/a> graphics processing units as a cloud service, raised $1.5 billion<\/a> in an IPO last year. Cerebras’ chips are an alternative to Nvidia’s popular GPUs.<\/p>\n

Cerebras sought to go public in 2024 but later withdrew the paperwork<\/a>, as its business model was shifting away from selling hardware and toward operating a cloud service based on its own chips. In April, Cerebras filed for an IPO for a second time. <\/p>\n

In January, Cerebras said it would provide up to\u00a0750 megawatts<\/a>\u00a0of AI computing power to OpenAI through 2028 in a transaction worth over $20 billion.<\/p>\n

The company’s fourth-quarter revenue grew about 76% year over year to $510 million, and it showed $87.9 million in net income for the period.<\/p>\n

Andrew Feldman, Cerebras’ co-founder and CEO, is not selling shares in the IPO. He will own 10.3 million shares after the IPO that would be worth up to $1.28 billion at the high end of the range, according to the filing.<\/p>\n

The company has an option to sell an additional 4.2 million shares to underwriters after the IPO that would yield another $525 million in proceeds at the high end of the range.<\/p>\n

WATCH: OpenAI unveils first AI model running on Cerebras chips<\/a><\/p>\n

\"OpenAIChoose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Nikolas Kokovlis | Nurphoto | Getty Images Artificial intelligence chipmaker Cerebras aims to raise as much as $3.5…\n","protected":false},"author":2,"featured_media":26556,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[663,24,25,133,309,148,1727,341,17750,138,17751,144,134],"class_list":{"0":"post-26555","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ai","8":"tag-advanced-micro-devices-inc","9":"tag-ai","10":"tag-artificial-intelligence","11":"tag-breaking-news-technology","12":"tag-business","13":"tag-business-news","14":"tag-coreweave-inc","15":"tag-enterprise","16":"tag-figma-inc","17":"tag-ipo","18":"tag-nasdaq-inc","19":"tag-nvidia-corp","20":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/26555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=26555"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/26555\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/26556"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=26555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=26555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=26555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}