03:35 PM EDT, 05/08/2026 (MT Newswires) -- Cerebras Systems (CBRS) is set to raise the price range for its initial public offering to $125 to $135 per share as soon as Monday, as demand for the AI chipmaker's shares continues to build, Bloomberg reported on Friday, citing people familiar with the matter.

The company is currently marketing 28 million shares at $115 to $125 each and seeking to raise about $3.5 billion, according to SEC filings. The IPO has drawn orders for more than 20 times the number of shares available, the report said.

The report said Cerebras has been asking institutional investors to specify both the number of shares and the maximum price they are willing to pay in order to gauge the true level of demand ahead of the offering, which is expected to price on May 13.

Cerebras declined to comment.

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