Cerebras IPO Creates Billions for CEO Andrew Feldman and Early A.I. Chip Backers |
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Cerebras IPO Creates Billions for CEO Andrew Feldman and Early A.I. Chip Backers
Andrew Feldman, Benchmark, Foundation Capital and other early Cerebras backers are among the biggest winners from the A.I. chip startup’s blockbuster public debut.
Cerebras Systems didn’t just go public this week; it minted billionaires and delivered one of the biggest venture paydays in years. The A.I. chip startup priced its IPO at $185 a share on Wednesday (May 13), above a range it had already raised twice. Shares opened at $350 on Thursday and closed at $311.07, valuing the company at roughly $95 billion. The $5.55 billion offering is the largest U.S. tech IPO since Uber in 2019 and the biggest semiconductor debut on record, serving as an early test of investor appetite for a wave of A.I. listings, including OpenAI and Anthropic later this year.
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The momentum cooled slightly today, with shares falling about 5 percent intraday to around $293. Still, the IPO........