Cerebras Systems Inc. shares surged more than 100% above their IPO price when trading opened Thursday, in a blockbuster debut that underscored investors’ intense appetite for AI infrastructure companies.
The company priced its initial public offering at $185 a share Wednesday night—above an already elevated expected range—raising roughly $5.55 billion. The AI chipmaker sold 30 million shares, with underwriters holding an option to purchase an additional 4.5 million shares, according to the company.
