Artificial intelligence chipmaker Cerebras Systems has raised its estimated price range for its IPO. The company is now aiming to sell shares at $150 to $160 each, up from the $115 to $125 range it announced last week.
At the high end of the new range, Cerebras could net as much as $4.8 billion, an increase from the $23 billion valuation the company announced in February during a funding round.
Morgan Stanley, Citigroup, Barclays, and UBS Investment Bank will act as lead book-running managers for the proposed offering.
Cerebras has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “CBRS.”
Nasdaq expects the Cerebras IPO to take place on May 14.
By CEO NA Editorial Staff
