SoftBank Group and its majority-owned chip designer Arm Holdings approached Cerebras Systems Inc. in recent weeks regarding a potential acquisition, according to Bloomberg.
The report said the discussions were preliminary and that Cerebras rejected the approach ahead of its expected IPO. It was reported that the IPO could value Cerebras at approximately $34 billion.
Sunnyvale, Calif.-based Cerebras Systems develops AI computing hardware focused on large-scale artificial intelligence workloads. The company is best known for its wafer-scale AI chips and high-performance systems designed to train and run large language models and other advanced AI applications. Cerebras competes with major AI infrastructure providers as demand for specialized AI computing capacity continues to accelerate globally.