News Summary

• AI chipmaker Cerebras Systems said on Monday that it is preparing to sell 28 million shares at $115 to $125 a share.
• This would raise $3.5 billion and give it a $26.6 billion market cap at the high end.
• It would also be a boon to OpenAI and a few of its executives.
• Banks are already fielding $10 billion worth of orders for the 3.5 to 4.5 million shares on offer.
• It could also prove the appetite for even bigger blockbuster offerings in the wings.