NEW YORK: Cerebras Systems Inc has picked Morgan Stanley to lead its initial public offering (IPO), according to people familiar with the matter, as the artificial intelligence (AI) chipmaker mounts a renewed attempt to go public.
The offering could raise about US$2bil in a listing as soon as April, some of the people said.
Cerebras has filed fresh paperwork for an IPO and is set to meet with analysts and prospective investors this month, one of the people said, asking not to be identified as the information isn’t public.
Cerebras withdrew its previous IPO registration in October, after having filed nearly a year beforeCitigroup Inc and Barclays Plc were the lead banks on that process, according to its filings with the US Securities and Exchange Commission at the time.
Both banks are working on the current IPO process, some of the people said.Deliberations are ongoing and details of the proposed IPO could change, they said.
Cerebras raised about US$1bil in a new funding round valuing the startup at US$23bil, including the money raised, Bloomberg reported in February.
Also in February, OpenAI released its first AI model that runs on chips from Cerebras. — Bloomberg
