Cerebras Systems expands IPO to $4.8 bn as AI chip demand spikes

AI‑chip maker Cerebras Systems, based in Sunnyvale, California, is preparing an enlarged initial public offering after investor demand outstripped supply by more than 20‑to‑1. The company is looking to increase the IPO price range to $150‑$160 per share and raise the number of shares to about 30 million, which could generate roughly $4.8 billion, up from the earlier $3.5 billion estimate.

If priced at the top of the revised range, the offering would value Cerebras at over $34 billion, with market forecasts suggesting a potential valuation exceeding $50 billion. The IPO, slated for May 13 on the Nasdaq under the ticker CBRS, follows the firm’s clearance of a U.S. national‑security review linked to its partnership with UAE‑based G42 and reflects growing demand for high‑performance processors that support AI inference workloads. Major customers such as Amazon and OpenAI are already using Cerebras’ chips, positioning the company as a notable rival to Nvidia in the domestic AI‑compute market.