AI Chipmaker Cerebras Raises $5.55 Billion in Year’s Biggest IPO

Cerebras Systems Inc. raised $5.55 billion in its US initial public offering, as the artificial intelligence chipmaker seizes on the surging demand for semiconductors.

The company priced its shares at $185 each, above the marketed range, according to a statement confirming an earlier Bloomberg News report. Cerebras had offered 30 million shares in the IPO for $150 to $160 each, after revising the range and number of shares higher on Monday.