AI Chipmaker Cerebras Systems Files Confidentially for US IPO

Cerebras Systems Inc., a startup making semiconductors optimized for artificial intelligence uses, has filed confidentially for an initial public offering.

The Silicon Valley firm has submitted a draft registration statement to the US Securities and Exchange Commission, according to a statement Thursday that didn’t disclose further details.

Cerebras has picked Citigroup Inc. as the lead bank on its IPO, people familiar with the matter have said. The company is targeting a listing in the second half of the year, and may seek a valuation in the IPO that would value it above the $4 billion figure achieved in ...