According to individuals with insider knowledge of the situation, artificial intelligence chip developer Cerebras Systems is likely to broaden the scope of its initial public offering (IPO) and hike prices as soon as Monday. The updated price range has been set between $150 and $160 per share, marking an increase from the prior range of $115 to $125. Concurrently, the number of shares being offered will rise from 28 million to 30 million. Should the shares be priced at the new upper limit, the company could potentially raise around $4.8 billion, a significant jump from the initial projection of $3.5 billion. At present, the subscription orders for its IPO have surged to over 20 times the number of available shares. The company is actively working to handle the surge in market enthusiasm as it approaches the pricing date on May 13. Cerebras Systems specializes in crafting chips tailored for executing sophisticated AI models, particularly well-suited for inference tasks. This IPO represents its second attempt, having initially submitted an application in 2024 and subsequently withdrawing it the previous year.