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00:03Cerebra Systems is preparing to raise the size and price range of its IPO
00:07as demand for the AI chipmaker's shares climbs ahead of pricing on May 13th, according to CNBC.
00:14The company is considering raising its IPO range to $150 to $160 per share from $115 to $125
00:22and increasing the number of shares offered to $30 million from $28 million.
00:27At the top of the revised range, Cerebra's could raise about $4.8 billion.
00:34The IPO has drawn orders for more than 20 times the available shares.
00:39Cerebra's makes AI chips focused on inference workloads in a market dominated by NVIDIA.
00:44The company previously withdrew its 2024 IPO plans after its partnership with UAE-based G42
00:51triggered a national security review.
00:54The review was later cleared.
00:55Cerebra's has since secured Amazon and OpenAI as customers.
00:59For all things money, visit Benzinga.com.
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