AI chipmaker Cerebras Systems, a competitor to Nvidia, is set to begin its initial public offering (IPO) roadshow on Monday, with shares expected to be priced between $115 and $125, according to a source familiar with the matter, News.Az reports, citing Reuters.
The company is making its second attempt to go public after previously withdrawing an IPO filing last October.
The firm plans to list on the Nasdaq under the ticker symbol “CBRS.” A recent Bloomberg report said the company could raise as much as $4 billion in the offering, targeting a valuation of around $40 billion.
Based in Sunnyvale, California, Cerebras Systems is known for its wafer-scale engine chips designed to accelerate the training and inference of large artificial intelligence models, positioning it as a direct competitor to NVIDIA and other AI hardware firms.
The company reported strong financial growth, with revenue rising to $510 million for the year ending December 31, compared with $290.3 million a year earlier. It also posted earnings of $1.38 per share, marking a turnaround from a loss of $9.90 per share in the prior year.
The IPO is being led by major investment banks, including Morgan Stanley, Citigroup, Barclays, and UBS.
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