Nvidia Rival Cerebras Systems Eyes IPO Price Hike To $150–$160 Per Share As Investor Frenzy Over AI Chipmaker Intensifies: Report

Cerebras Systems is reportedly preparing to sharply raise its IPO price range and expand its share sale.
Cerebras IPO valuation climbs amid soaring investor demand
Cerebras is considering increasing its IPO price range to $150 to $160 per share, up from its earlier target of $115 to $125, Reuters reported, citing sources.
The company is also reportedly boosting the number of shares offered to 30 million from 28 million.
At the upper end of the revised range, the Sunnyvale, California-based chipmaker could raise approximately $4.8 billion, significantly above its initial $3.5 billion target.
The company's offering has reportedly attracted orders exceeding available shares by more than 20 times ahead of its expected May 13 pricing.
Cerebras did not immediately respond to Benzinga’s request f