Arm and Softbank had offered an offer before Cerebras IPO but were rejected

On May 13, Arm(ARM.O) and its major shareholder Softbank Group approached CerebrasSystems, the top AI chip company in the United States, a few weeks before its IPO, and proposed an acquisition intention. According to people familiar with the matter, Cerebras Systems rejected the offer. Cerebras plans to price its IPO on Wednesday, which could value the company at about $34 billion. Previously reported that the company told potential investors that IPO pricing is expected to be higher than the upper limit of its issuance range, and the final market value may still be adjusted according to changes in the actual number of shares issued. Cerebras, which is expected to be the largest IPO so far this year, has previously hinted that it may set its IPO price above the $150 to $160 offering range amid strong market demand.