-- Cerebras Systems plans to kick off the roadshow for its proposed initial public offering as the artificial intelligence chipmaker targets raising up to a little over $4 billion.
The company is looking to offer 28 million class A common shares at between $115 and $125 per share, according to a preliminary prospectus filed with the Securities and Exchange Commission on Monday. The underwriters will have a 30-day option to purchase up to an additional 4.2 million class A shares.
The aggregate share count yields about $4.03 billion, based on the top end of the expected price range' calculations showed.
Cerebras has applied to list its class A shares on the Nasdaq Global Select Market under the symbol "CBRS," according to the filing.
The company in October 2025 dropped its plans to go public, shortly after it raised $1.1 billion in a funding round at $8.1 billion post-money valuation.
Cerebras, which competes with companies including Nvidia (NVDA) and Advanced Micro Devices (AMD) in the hardware category, reported 2025 net income of $1.38 per share on revenue of $510 million. That compares with a loss of $9.90 per share and revenue of $290.3 million in 2024.
It also competes with cloud service providers such as Amazon (AMZN) Web Services and Microsoft's (MSFT) Azure, according to the filing.
In April, the company said it had raised $2.85 billion in capital over a period of eight months, including a new credit facility for up to $850 million.
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