AI chipmaker Cerebras targets $115–$125 share price in US IPO, plans Nasdaq listing under ticker CBRS

Cerebras Systems is scheduled to kick off its IPO roadshow on Monday, with shares expected to be priced between $115 and $125. The company aims to list on the Nasdaq under the ticker symbol "CBRS". This marks Cerebras' second attempt to go public after withdrawing a previous IPO filing last October.

The Sunnyvale, California-based company is known for its wafer-scale engine chips, designed to speed up the training and inference (the step where an AI produces an answer) of large AI models. Morgan Stanley, Citigroup, Barclays and UBS are the lead underwriters for the offering.

Cerebras' revenue rose to $510 million in the year ended December 31, up from $290.3 million a year earlier. The company also reported a profit of $1.38 per share, a turnaround from a loss of $9.90 per share a year earlier.