Exclusive-Cerebras to raise IPO price range to $150-$160 as demand surges, sources say​​​​​​​​​​​​​​​​

By Echo Wang

May 10 (Reuters) - Cerebras Systems is acceptable to rise the size and terms of its archetypal nationalist offering arsenic soon arsenic Monday, arsenic request for the artificial quality ‌chipmaker's shares continues to climb, 2 radical acquainted with the substance told Reuters connected Sunday.

The ‌company is considering a caller IPO terms scope of $150-$160 a share, up from $115-$125 a share, and raising the fig of shares ​marketed to 30 cardinal from 28 million, said the sources, who asked not to beryllium identified due to the fact that the accusation isn't nationalist yet.

At the apical of the caller range, Cerebras would rise astir $4.8 billion, up from $3.5 cardinal nether its archetypal terms, though the figures stay taxable to alteration earlier pricing, the radical said.

The summation follows a broader ‌surge successful AI adoption that has ⁠driven crisp request for high-performance chips and turned semiconductors into a cardinal bottleneck successful the exertion proviso chain. Cerebras' IPO has drawn orders for much than 20 ⁠times the fig of shares available, the radical said, arsenic the chipmaker looks to negociate surging involvement up of its May 13 pricing.

Cerebras did not instantly respond to a petition for comment.

Bloomberg News antecedently reported the institution planned ​to rise ​the terms scope of the IPO to $125-$135 per share.

Sunnyvale, ​California-based Cerebras makes specialized chips for moving ‌advanced AI models successful a marketplace dominated by Nvidia.Cerebras is seeing surging request for its processors arsenic AI labs displacement from grooming models to deploying them. Cerebras' chips are amended suited for inference, the computations that let AI models to respond to idiosyncratic queries, than the GPU chips the manufacture has agelong relied connected for exemplary training.

The IPO adjacent week would people Cerebras' 2nd effort to spell nationalist - the institution archetypal ‌filed for an IPO successful 2024 but pulled that program ​last year. Its concern with G42, a UAE-based AI institution ​that provided much than 80% of its ​revenue successful the archetypal fractional of 2024, had drawn a nationalist information reappraisal by ‌the Committee connected Foreign Investment successful the United ​States. The committee yet ​cleared the deal.

Since then, Cerebras has secured Amazon and OpenAI, 2 of the biggest builders of AI infrastructure successful the world, arsenic customers.

The listing would beryllium the biggest IPO globally truthful acold ​this year, according to Dealogic.

The offering ‌is being led by Morgan Stanley, Citigroup, Barclays and UBS Group AG. Cerebras plans for ​its shares to commercialized connected the Nasdaq Global Select Market nether the awesome CBRS.

(Reporting by ​Echo Wang successful New York; Editing by Paul Simao)