Nvidia competitor Cerebras plans to raise $3.5 billion through a U.S. IPO

According to Jinshi News, artificial intelligence chip manufacturer and data center operator Cerebras Systems plans to raise up to $3.5 billion through an initial public offering to compete against rivals in this hot industry.

According to documents submitted by the company, headquartered in Sunnyvale, California, to the U.S. Securities and Exchange Commission, the company is issuing 28 million shares at a price of $115 to $125 per share. Cerebras had secretly submitted its listing application earlier this year, and just a few months ago, the company withdrew a previous registration application.