May 4, 2026 12:06 PM
A Sunnyvale-based AI chipmaker filed for a US initial public offering to raise up to $3.5 billion, with 28 million shares priced at $115–$125 and potential proceeds up to $4.03 billion with the overallotment.
Cerebras Systems is seeking to raise as much as $3.5 billion in an initial public offering in the United States, according to its filing with the US Securities and Exchange Commission.
The Sunnyvale, California-based artificial intelligence chipmaker and data center operator is moving to bolster its position against rivals in the red-hot AI hardware market.
The filing shows Cerebras is offering 28 million shares at a price range of $115 to $125 each. Accounting for the so-called overallotment option, the transaction could raise as much as $4.03 billion if fully exercised.
Cerebras filed confidentially for a listing earlier this year, months after withdrawing a previous registration, confirming a Bloomberg News report.
The recap
- Cerebras files for US initial public offering seeking funds.
- Offering of 28 million shares priced $115 to $125.
- Company filed confidentially earlier this year after withdrawal.
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