Cerebras Raises IPO Price to $150-$160, Shares to 30M

Cerebras Systems plans to increase both the price range and number of shares in its initial public offering as soon as Monday, driven by investor demand exceeding 20 times the available shares, according to two people familiar with the matter.

The Sunnyvale, California-based artificial intelligence chipmaker is considering pricing shares between $150 and $160 each, up from an initial range of $115 to $125, with the offering expanded to 30 million shares from 28 million. At the high end of the new range, Cerebras could raise about $4.8 billion, compared to $3.5 billion previously targeted. The figures remain subject to change ahead of pricing on May 13, with shares set to trade on the Nasdaq Global Select Market under the symbol CBRS. The company did not immediately respond to requests for comment.

The adjustment reflects surging interest amid a broader boom in AI adoption, which has heightened demand for high-performance semiconductors. AI labs are increasingly shifting from training models to deploying them for real-world use, such as inference tasks where models respond to user queries. Cerebras specializes in wafer-scale chips designed for these advanced AI workloads in a...