Bond.az - Shares of chip designer Cerebras Systems soared 89% above the IPO price on their Nasdaq debut.
The stock opened at $350, well above the $185 IPO price, raising $5.55 billion. The valuation reached $106.75 billion on a fully diluted basis.
The Sunnyvale, California-based firm’s IPO is the largest this year, fueled by AI mania.
Cerebras makes wafer-scale chips the size of dinner plates for AI processing.
CEO Andrew Feldman: "In Silicon Valley, we understand how big AI will be."
