Report: Arm and SoftBank were rejected after seeking to acquire Cerebras before its IPO

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According to media reports, Arm Holdings and its parent company SoftBank Group initiated acquisition talks with Cerebras Systems a few weeks before Cerebras’s initial public offering, but were ultimately rejected by the latter.

Cerebras is expected to price its stock on Wednesday and has signaled to potential investors that it plans to set the offering price above the guidance range of $150 to $160 per share. The company may be valued at $34 billion, making it likely to be the largest IPO so far this year.

The largest semiconductor IPO of the year, targeting Nvidia

Cerebras plans to sell 30 million shares in this IPO, aiming to raise about $4.8 billion, a scale comparable to Arm’s record-setting semiconductor IPO in 2023.

The company positions itself as a challenger in the AI chip sector, directly taking aim at Nvidia.

Cerebras is choosing to go public at a time when investor enthusiasm for AI infrastructure is soaring, intending to convert strong market demand into a valuation advantage. The company’s final market value will still depend on the actual number of shares issued.

SoftBank expands its chip portfolio

SoftBank has recently continued to increase its exposure in the chip manufacturing sector. Its $6.5 billion acquisition of server processor manufacturer Ampere Computing was completed at the end of last year.

Arm, a subsidiary of SoftBank, is a leading global chip architecture licensor. This joint attempt by Arm and its parent company to acquire Cerebras reflects SoftBank’s strategic intent to build a more comprehensive industrial layout in the field of AI computing hardware.

However, with a promising IPO outlook and rising valuation, Cerebras chose to refuse, showing its management believes independent listing will bring higher value returns.

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