"Cerebras intends to list on the Nasdaq Global Select Market under the ticker CBRS, with Morgan Stanley, Citigroup, Barclays and UBS Investment Bank as joint book-running managers."
"The financial profile underlying the offering is, by AI-hardware standards, well-developed. Cerebras's most recent quarter showed revenue up roughly 76 per cent year-on-year to $510m, with $87.9m in net income."
"The company's Master Relationship Agreement with OpenAI, signed in January, promises up to 750 megawatts of inference capacity through 2028 in a contract Cerebras has previously valued at more than $20bn over its term."
Cerebras Systems plans to raise up to $3.5bn through an IPO by marketing 28 million shares at $115-$125 each. This pricing reflects a valuation of approximately $26.6bn, significantly lower than the previously suggested $40bn. The company has shown strong financial performance, with a 76% year-on-year revenue increase to $510m and $87.9m in net income. Cerebras has a significant contract with OpenAI, promising substantial inference capacity, which supports its IPO narrative. The offering will be listed on the Nasdaq under the ticker CBRS.
Read at TNW | Business
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