Cerebras Systems Announces Filing of Registration Statement for Proposed Initial Public Offering
SUNNYVALE, Calif., Sept. 30, 2024 -- Cerebras Systems today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its Class A common stock. The number of shares of Class A common stock to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or other terms of the offering.
Cerebras intends to list its Class A common stock on the Nasdaq Global Market under the ticker symbol “CBRS.”
Citigroup and Barclays are acting as lead book-running managers for the proposed offering. UBS Investment Bank, Wells Fargo Securities, Mizuho and TD Cowen are also acting as book-running managers. Needham & Company, Craig-Hallum, Wedbush Securities, Rosenblatt and Academy Securities are acting as co-managers.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to this offering, when available, may be obtained from: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or telephone: 800-831-9146 and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at [email protected], or telephone at 1-888-603-5847.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Cerebras Systems
Cerebras Systems is a team of pioneering computer architects, computer scientists, deep learning researchers, and engineers of all types. We have come together to accelerate generative AI by building a new class of AI supercomputer. Our flagship product, the CS-3 system, is powered by the largest commercially available AI processor, our Wafer-Scale Engine-3. CS-3s are quickly and easily clustered together to make massive AI supercomputers, and make placing models on the supercomputers simple by avoiding the complexity of distributed computing. Leading enterprises, research institutions, and government agencies use Cerebras solutions for the development of pathbreaking proprietary models, and to train open-source models that have achieved over a million downloads. Cerebras solutions are available through the Cerebras Cloud and on premises.
Source: Cerebras Systems