Cerebras set for debut in stock market gripped by AI mania

Cerebras, a chipmaker based in Sunnyvale, California, is set to debut on the Nasdaq later on Thursday.
The company raised $5.55 billion in its IPO, making it the largest U.S. IPO this year and implying a valuation of $56.43 billion on a fully diluted basis.
This launch comes amid investor excitement for AI-linked companies, despite global economic challenges, including the conflict in the Middle East.
Founded in 2015, Cerebras designed wafer-scale engine chips that use hundreds of thousands of compute cores on a single processor to speed up processing, vying with industry leader Nvidia.
The company’s second attempt to go public follows a national security review prompted by its partnership with UAE-based AI firm G42; however, it now has Amazon and OpenAI as customers.
The surge in AI spending among tech giants has driven the listing, with AI-linked stocks seeing significant returns as investors bet on the technology’s transformative potential.

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