00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Cerebras filed an updated prospectus to raise up to $3.5 billion in a Nasdaq IPO,
00:09according to CNBC. The company plans to sell 28 million shares priced between $115 and $125,
00:19which could value it at up to $26.6 billion. Cerebras previously reached a $23 billion
00:26valuation in a February venture round with advanced micro devices among investors.
00:31The company shifted its model from hardware sales to a cloud service
00:34and refiled for an IPO in April after withdrawing in 2024. It reported fourth quarter revenue
00:42of $510 million, up 76% year over year, and net income of $87.9 million. It also announced a
00:51deal in January to provide up to 750 megawatts of AI computing power to open AI through 2028,
00:58worth over $20 billion. For all things money, visit Benzinga.com.
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