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00:02Cerebra Systems shares surged 68% in their NASDAQ debut Thursday after the AI chipmaker
00:08priced its IPO at $185 per share and closed at $311.07, according to CNBC.
00:17The debut valued the company at $95 billion. Cerebra's raised $5.55 billion by selling
00:2530 million shares, marking the largest U.S. tech IPO since Uber in 2019. The stock opened
00:32at $350 and peaked at $386 before trimming gains. Revenue rose 76% last year to $510 million,
00:41while net income reached $88 million after a prior year loss of $481.6 million. Cerebra
00:49said it is shifting toward cloud services and expanding partnerships. The company announced
00:55a cloud deal with OpenAI worth more than $20 billion through 2028 and an agreement with
01:00Amazon Web Services to deploy its chips in AWS data centers. For all things money, visit Benzinga.com.
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