Cerebras prices IPO at $185 per share to raise $5.55 billion, sources say

May 13 (Reuters) - ​Cerebras ⁠Systems priced its ​U.S. initial public offering at $185 per share on Wednesday, ​above the ‌top end of its indicated price range, ⁠people familiar with the matter ⁠said. The IPO raised $5.55 ​billion for Cerebras, based on 30 million shares sold. It implies a valuation on Cerebras ​on ‌a fully diluted basis of $56.43 billion, making it the largest stock market debut so far this year.

The company previously ​upsized the highly anticipated IPO, increasing the price ‌and number of shares available after investors placed orders for ‌more than 20 times the number of shares available, Reuters reported.

The company marketed the offering ​at between $150 and $160 per share, up from an earlier ‌range of $115 to $125 per share. It also increased the number of shares on offer ⁠to ⁠30 million from 28 million.

The ‌sources requested anonymity ahead of an official announcement. Cerebras did ​not ​immediately respond to a ‌request for comment.

CNBC was first to report on the pricing.

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