AI Chipmaker Cerebras Is Said to Plan Raising IPO Price Range

Cerebras Systems Inc. is set to increase the price range of its initial public offering as soon as Monday, according to people familiar with the matter, as demand for the artificial intelligence chipmaker’s shares continues to build.

The company expects to raise the price range to $125 to $135 per share, the people said, asking not to be identified as the information isn’t public. The IPO has drawn orders for more than 20 times the number of shares available, the people said.

Cerebras is currently seeking to raise $3.5 billion and is marketing 28 million shares for $115 to $125 ...