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Cerebras IPO Will Test Investor Appetite for AI Chip Startups
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How many AI chip designers can the public market support?
Key facts
- They'll get a sense of that on Thursday when Cerebras Systems, the biggest of a new generation of chip designers dedicated to AI, is expected to go public at a valuation of $35 billion
- How many AI chip designers can the public market support
Summary
CoreWeave went public a year ago at $40 a share and, despite a lot of ups and downs, it closed on Friday at $114. (Most other tech IPOs from last year, that had no AI exposure, have had a different experience.) CoreWeave has been well received even though it is burning through billions of dollars in cash right now as it ramps up its network of data centers.