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

Artificial intelligence chip maker and data center operator Cerebras Systems plans to raise up to $3.5 billion through an initial public offering to fight against competitors in the hot industry.<br /> The Sunnyvale, California-based company is issuing 28 million shares at a price of $115 to $125 per share, according to filings with the U.S. Securities and Exchange Commission. Cerebras secretly filed a listing application earlier this year, months after the company withdrew a previous registration application.