Cerebras Systems, a Silicon Valley startup, selects Citigroup as lead bank for its $4bn-valued IPO in H2 2022.

Chipmaker Cerebras Systems, a Silicon Valley startup, has chosen Citigroup as the lead bank for its upcoming initial public offering (IPO), aiming for a listing in the second half of this year. The company, which recently achieved a $4bn valuation in its 2021 funding round, may seek a valuation above that figure in the IPO. The decision comes after Cerebras held discussions with potential advisers on the US listing.