Cerebras opens at $350 on Nasdaq, topping $100 billion market cap after blockbuster IPO

Cerebras Systems popped in its Nasdaq debut on Thursday, opening at $350, after selling shares at $185, well above the chipmaker's expected range. That values the chipmaker at over $100 billion. The company sold 30 million shares in its offering late Wednesday, raising $5.55 billion , the largest IPO for a U.S. tech company since Uber's debut in 2019. If underwriters exercise their option to buy 4.5 million additional shares, total proceeds could reach $6.38 billion. …