AI Chipmaker Cerebras Surges 81% After Year’s Biggest IPO

Cerebras Systems Inc. shares jumped 81% in its trading debut, after the artificial intelligence chipmaker and data center firm raised $5.55 billion in the year’s largest initial public offering.

Shares of the Sunnyvale, California-based company traded at $334 each as of 1:33 p.m. in New York on Thursday, above the $185 IPO price, after being halted earlier for volatility. Cerebras’ first-time share sale raised nearly 60% more than its target when it launched, and priced above a marketed range that was revised higher on Monday.