Cerebras Systems, a semiconductor company, experienced significant volatility in early trading on Friday after completing the largest U.S. tech IPO in years.
The company initially set its share price at $185 on the Nasdaq, and later closed at $331.07, a 68% increase by the end of the day, resulting in a market cap of approximately $95 billion.
Cerebras sold 30 million shares on Thursday, raising $5.55 billion the biggest IPO for a tech firm since Uber’s in 2019.
In premarket trading, the stock was up about 6%, but by the close, gains had pared to a 2.6% decline.
Source (CNBC)
