AI Chipmaker Cerebras Seeks $4.8 Billion in Upsized US IPO (1)

Cerebras Systems Inc. increased the size of its initial public offering, now seeking to raise as much as $4.8 billion, as demand for the artificial intelligence chipmaker and data center operator’s shares continues to build.

The company is offering 30 million shares for $150 to $160 each, according to a filing with the US Securities and Exchange Commission on Monday. Cerebras had previously marketed 28 million shares for $115 to $125 each.

At the top of the price range, Sunnyvale, California-based Cerebras would have a market value of $34.4 billion, based on the shares outstanding in its filing. The IPO ...