(new: closing price and updated stock market values)
NEW YORK (dpa-AFX) – Amid the boom in artificial intelligence (AI), chip manufacturer Cerebras Systems (Cerebras Systems A) celebrated a brilliant stock market debut (IPO) on Thursday. The first price was $350, 89 percent higher than the issue price of $185. This had already been set above the original range of $150 to $160. The stock was also more than 25 times oversubscribed, as company boss Andrew Feldman told the Bloomberg news agency.
During trading, Cerebras Systems shares climbed to a good $386. The daily low of $300 was still comfortably above the issue price. At the close of trading, the shares were trading at just over $311.
Cerebras Systems produces chips for AI applications and operates data centers. This means that the company is active in the fields that are currently particularly in demand among investors. Cerebras raised $5.55 billion in the largest IPO of the year in the US so far.
“We are only at the beginning of usable AI,” Feldman continued. And the more useful AI becomes, the more tiny information units (tokens) will be needed. And Cerebras can currently generate tokens the fastest.
Based on the number of outstanding shares disclosed in company filings, Cerebras Systems has a market value of $67 billion. This makes the company slightly lighter than the semiconductor manufacturer NXP Semiconductors, which operates in a similar environment.
Nevertheless, the big players in the industry still play in a different league. Market leader NVIDIA currently weighs $5.7 trillion. Nvidia is also currently the most expensive US company listed on the stock exchange.
In terms of IPO activity, SpaceX could significantly eclipse Cerebras Systems this year. According to sources, Elon Musk’s AI and space company is expected to be valued at more than $2 trillion in the planned IPO. The targeted proceeds from the share placement are still around $75 billion.
SpaceX plays a key role in the American space program with its rockets. The company also operates the Starlink satellite internet service – and Musk recently brought his AI company xAI, including the online platform X, into SpaceX./la/he
By the way: US stocks can even be traded on finanzen.net ZERO until 11 p.m. (without order fees, plus spreads). Open a depot now for free and secure a new customer bonus!