AI chipmaker Cerebras targets $115-$125 share price in US IPO, source says

Cerebras is targeting a US IPO with a share price range of $115-$125, and sources indicate a possible IPO valuation in the high tens of billions. CNBC reports a planned $3.5 billion raise and a valuation up to $24.5 billion, up from $23 billion in February, while Reuters notes a valuation target of about $26.6 billion as AI chip demand surges. The two Reuters articles align on timing and market context but differ on the implied valuation level, with the Reuters piece naming the $26.6 billion target and CNBC suggesting a higher potential valuation tied to the larger raise.