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00:02Cerebra Systems priced its IPO at $185 per share on Wednesday,
00:08above the expected range, according to CNBC. The pricing raises at least $5.55 billion
00:15in one of the largest U.S. tech IPOs in recent years. The AI chipmaker is valued at $56.4
00:23billion on a fully diluted basis and will trade on the NASDAQ. Cerebra's filed to go public in
00:29September 2024, but later withdrew the filing after scrutiny over its reliance on UAE-based
00:34customer G42. The company said G42 accounted for 24% of revenue last year, down from 85% in 2024.
00:45Cerebra's also signed a deal with OpenAI in January worth more than $20 billion for computing capacity.
00:51Cerebra's raised at least $5.55 billion in its IPO as investors expanded AI-driven semiconductor
00:59bets beyond NVIDIA, driving sharp gains in chip stocks including Intel, AMD, and Micron.
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