SoftBank and Arm Reject Cerebras Acquisition Ahead of $34B IPO on Wednesday

According to PANews, SoftBank and its subsidiary Arm approached AI chip maker Cerebras Systems weeks before its IPO with an acquisition proposal, but Cerebras rejected the offer. The company is scheduled to price its IPO on Wednesday, with a valuation potentially reaching around $34 billion. Cerebras previously indicated it may price the offering above its initial $150-160 per share range.

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