business / news / / CNBC
Cerebras is looking to sell 28 million shares, for $115 to $125 each.
Cerebras plans to raise up to $3.5 billion in a Nasdaq IPO, targeting a $26.6 billion valuation.
KEY POINTS
- The company recently shifted its business model from hardware sales to providing AI cloud services.
- Cerebras secured a deal to provide OpenAI with 750 megawatts of AI computing power through 2028.
- Cerebras' Q4 revenue grew 76% year over year to $510 million, with $87.9 million net income.
- CEO Andrew Feldman will retain all his shares post-IPO, equating to $1.28 billion at top valuation.
COMPANIES
Summarized by Newsio from CNBC. How we summarize →