Chipmaker Cerebras Systems Picks Citigroup for IPO
- Startup targeting IPO in second half of 2024 at the earliest
- Other financial advisers likely to be added to the US listing
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Chipmaking startup Cerebras Systems Inc. has picked Citigroup Inc. as the lead bank on its initial public offering, according to people familiar with the matter.
The Silicon Valley company chose the lender after holding discussions with potential advisers on the US listing, the people said. Cerebras is targeting a listing in the second half of the year at the earliest, and may seek a valuation in the IPO that would value it above the $4 billion figure achieved in its 2021 funding round, Bloomberg News reported in January.