May 4 (Reuters) – AI chipmaker Cerebras Systems, a rival to Nvidia
This marks Cerebras’ second attempt to go public after withdrawing a previous IPO filing last October.
Cerebras did not immediately respond to Reuters request for a comment.
The company now aims to list on the Nasdaq under the ticker symbol “CBRS”. According to a Bloomberg News report last week, Cerebras could raise up to $4 billion, targeting a valuation of around $40 billion.
The Sunnyvale, California-based company is known for its wafer-scale engine chips, designed to speed up the training and inference of large AI models, placing it in direct competition with Nvidia and other AI hardware firms.
The company’s revenue rose to $510 million in the year ended December 31, up from $290.3 million a year earlier. It also reported a profit of $1.38 per share, a turnaround from a loss of $9.90 per share a year earlier.
Morgan Stanley, Citigroup, Barclays and UBS are the lead underwriters for the offering.
(Reporting by Echo Wang in New York and Rhea Rose Abraham in Bengaluru; Editing by Sherry Jacob-Phillips)
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