Cerebras Systems, which designs and produces semiconductors and supercomputers, and provides AI services, raised $5.6 billion by offering 30 million shares at $185, above the revised $150 to $160 range. The company originally filed to offer 28 million shares at $115 to $125, before it increased the share offering and range on 05/11.
Cerebras believes its core innovation is the world's first and only commercialized wafer-scale processor. Called the Wafer-Scale Engine (WSE), it states that its processor is 58 times larger than NVIDIA's B200 chip and has 2,625 times more memory bandwidth than NVIDIA's B200 package, which contains two individual chips.
The Sunnyvale, CA-based company will trade on the Nasdaq under the symbol CBRS. Morgan Stanley, Citi, Barclays, UBS Investment Bank, Mizuho Securities, and TD Securities acted as joint bookrunners on the deal.
