April 17 (Reuters) – AI chipmaker Cerebras Systems disclosed its filing for a U.S. initial public offering on Friday, bringing the Nvidia rival closer to the public markets as optimism builds around a broader revival in the listings market.
The company, which develops high-performance processors for artificial intelligence workloads, withdrew its earlier IPO filing in October, days after raising more than $1 billion in a funding round that valued it at $8 billion.
The IPO market is regaining momentum after a brief slowdown in March, when volatility driven by geopolitical tensions and a selloff in technology stocks curbed investor appetite.
A recent pickup in listings suggests companies are returning to the market as sentiment stabilizes, with issuers and bankers betting that the recovery seen earlier this year can extend into the coming months.
Analysts expect companies tied to the AI market to spearhead tech sector listings, as firms see significant growth potential from the wider adoption of generative AI.
Cerebras is aiming to list on the Nasdaq under the ticker symbol “CBRS.”
Morgan Stanley, Citigroup, Barclays and UBS are the lead underwriters of the offering.
(Reporting by Manya Saini and Pragyan Kalita in Bengaluru; Editing by Shilpi Majumdar and Pooja Desai)
