The firm set the price of the securities at $185, exceeding the stated range of $150-160. Initially, Cerebras planned to sell 30 million securities. The market capitalization amounted to about $49 billion, forklog.com writes.
The company has created a processor almost the size of an entire silicon wafer. Thanks to this, a single device hosts 900,000 AI cores and 44 GB of SRAM memory with very high bandwidth.
This reduces latency and speeds up inferencing – especially for LLMs, where the bottleneck is often the data transfer between memory and compute blocks. In certain scenarios, the company claims speedups of 10 times or more relative to GPU systems.
Cerebras’ key partners include:
– OpenAI has contracted to build 750 MW of capacity on the company’s chips and plans to invest up to $20 billion over three years;
– Amazon has announced its intention to use the firm’s semiconductors alongside Trainium to power its AI.
Cerebras sought to regulate the growing interest in the upcoming listing. The company has asked institutional investors to indicate the number of shares and the maximum price they are willing to pay to gauge the real level of demand.
The IPO saw bids more than 20 times the number of shares available. Meanwhile, Arm Holdings and its majority owner SoftBank Group wanted to buy Cerebras weeks before the expected initial public offering.
