Nvidia rival Cerebras plans to raise $3.5 billion through a US IPO.

CoinFeed reported on May 4th that Cerebras Systems, an artificial intelligence chip manufacturer and data center operator, plans to raise up to $3.5 billion through an initial public offering (IPO) to compete with rivals in the hot industry. According to a filing with the U.S. Securities and Exchange Commission, the Sunnyvale, California-based company is offering 28 million shares at a price of $115 to $125 per share. Cerebras had secretly filed for an IPO earlier this year, just months before withdrawing a previous registration statement.