In June, we issued a post discussing Cerebras Systems’ Series F-1 and IPO filing. Since then, the company has issued its own press release regarding the filing, and there has been more speculation on the timing of the listing.
On July 31, Cerebras issued a press release disclosing that it had filed confidentially to go public, which we covered back in June. Two days later, Bloomberg posted an article that claimed the company plans to go public as soon as October and that it had added Barclays to the list of banks working on the deal.
The Prime Unicorn Index has seen double the amount of IPOs among its components in 2024 compared to 2023. While the IPO market appears to be beginning its road to recovery, it is worth noting that recent uncertainty in the public markets may affect these plans. Monday saw a big selloff, with futures for the three main US indexes having their worst day in over a year. Although Tuesday saw most stocks rebound, some of the concern fueling these drops seems to stem from worries that AI may be “overhyped,” as seen through the dramatic price movement of Nvidia, Cerebras’s largest competitor.
