Cerebras Systems plans to raise its stock price before listing on the Nasdaq. The new target range is set at $150 to $160 per share. It has risen from the previous range of $115 to $125.
The number of shares it will sell has also increased from 28 million to 30 million. This information has not been announced publicly and comes from Reuters sources familiar with the matter.
If stock prices adjusted to the new range, Cerebras would be worth about $4.8 billion. It’s a huge jump from the initial $3.5 billion the company was looking to raise. The offer will be priced on May 13 and may have changes in the final numbers.
Sources also said that stock orders rose 20 times the number available. It shows the extent of appetite among investors.
Cerebras’ second attempt to go public
Cerebras, based in Sunnyvale, California, builds specialized processors aimed at running advanced AI models, a space where Nvidia has long held a dominant position.
The company’s chips are designed specifically for AI inference, meaning the work the model does when answering a user’s question, rather than the training process. As AI companies move from building models to actually putting them into use, demand for inference chips has grown sharply.
As reported Cryptopolitan Previously, the company had filed to go public in 2024 but dropped those plans after launching a national security review into its relationship with G42, a UAE-based artificial intelligence company that accounted for more than 80% of Cerebras’ revenue in the first half of 2024. The review by the Committee on Foreign Investment in the United States was ultimately resolved in the company’s favor.
Since then, Cerebras has added Amazon and OpenAItwo of the biggest names in AI infrastructure, as clients. Morgan Stanley, Citigroup, Barclays and UBS Group are handling the bid. The company will trade under the ticker symbol CBRS.
The listing is expected to be the world’s largest IPO so far this year, according to data from Dealogic.
News of the revised supply sent Asian chip stocks higher on Monday. The KOSPI index in South Korea closed up about 5% at a record high, with SK Hynix shares rising 12% and Samsung Electronics shares rising 6%.
Startups are lining up to challenge Nvidia
The timing is perfect for Cerebras as investors are already showing interest and investing money in AI chip startups like never before. Data from Dealroom showed that these small startups have raised $8.3 billion globally. By the end of 2026, investment is expected to reach a new record high.
This campaign is rooted in the belief that Nvidia’s graphics processors, which were originally designed for gaming, are not the most efficient tools for running AI at scale. Startups argue that chips designed specifically for AI could provide significant savings in both power and cost.
“Inference is king now, and current GPU architecture is not designed for that in more broadly significant ways,” said Patrick Schneider-Sikorsky, director of the NATO Innovation Fund, which supports UK AI chip startup Fractile.
Nvidia, for its part, is not standing still. The company spent more than $18 billion on research and development in its last fiscal year, which ended in January 2026, and in December it acquired assets from artificial intelligence startup Groq for $20 billion. It also announced a $4 billion investment in two photonics technology companies in March.
However, startups continue to attract significant support. In the US, Cerebras raised $1 billion in February, while MatX, Ayar Labs, and Etched each raised $500 million in 2026. In Europe, Axelera and Olix each raised more than $200 million this year.
“It’s no longer a niche bet,” said Carlos Espinal, managing partner at European firm Seedcamp, which is backing startup Vaire Computing. “It has become a fundamental part of how people think about AI infrastructure.”
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