AI chipmaker Cerebras Systems ( CBRS ) raised $5.55B in its U.S. initial public offering, capitalizing on booming investor demand for artificial intelligence semiconductors. The company priced its shares at $185 each, above the marketed range, according to a statement . Cerebras had offered 30M shares in the IPO for $150 to $160 each, after revising the range and number of shares higher on Monday....
AI chipmaker Cerebras Systems ( CBRS ) raised $5.55B in its U.S. initial public offering, capitalizing on booming investor demand for artificial intelligence semiconductors. The company priced its shares at $185 each, above the marketed range, according to a statement . Cerebras had offered 30M shares in the IPO for $150 to $160 each, after revising the range and number of shares higher on Monday. The shares are expected to begin trading on Nasdaq on May 14, 2026, under the ticker symbol “CBRS.” The offering is expected to close on May 15, 2026. Earlier Wednesday, Bloomberg reported that Arm Holdings ( ARM ) and its majority owner Softbank Group ( SFTBY ), made an offer to purchase AI computing firm Cerebras Systems ( CBRS ) weeks before its planned initial public offering. More on Cerebras Systems Inc. Wall Street Brunch: IPOs Headline The Week's Show Wall Street Lunch: AI Chipmaker Seeks $3.5B In IPO, Eyes $26.5B Valuation Cerebras: Trying To Disrupt Nvidia's Inference Monopoly AI chipmaker Cerebras set to price IPO at $185/share: report Arm, Softbank made last-ditch effort to buy Cerebras before IPO - report
Get up to speed with key market intelligence, news and insight before trading starts each day in this fast-growing economy with the Markets Daily India newsletter. Sign up here . Bank of Baroda , one of India’s biggest lenders, aims to double its balance sheet over the next five years by capitalizing on the country’s strong economic growth, expanding fee-based businesses and deepening its presence...
Get up to speed with key market intelligence, news and insight before trading starts each day in this fast-growing economy with the Markets Daily India newsletter. Sign up here . Bank of Baroda , one of India’s biggest lenders, aims to double its balance sheet over the next five years by capitalizing on the country’s strong economic growth, expanding fee-based businesses and deepening its presence overseas. Debadatta Chand , chief executive officer of the bank, which absorbed two state-run lenders in 2019, said larger balance sheets will be crucial as lenders look to compete globally. “If India wants globally competitive banks, scale and capital base are very important,” he said in an interview. “There are advantages to consolidation.” Authorities have been discussing options to create large state banks in Asia’s third-largest economy in order to finance big infrastructure and industrial projects. Prime Minister Narendra Modi has set a target to transform India into a developed economy by 2047. Currently, only State Bank of India , the country’s biggest lender, and private sector leader HDFC Bank Ltd. rank in the top 100 global sector list by total assets. China and the US have rivals among the 10 biggest, data compiled by Bloomberg showed. Read More: India’s Biggest Lender Backs Another Wave of Bank Mergers Indian banks have grown their balance sheets rapidly since the Covid-19 pandemic, supported by strong deposit inflows, rebounding credit demand and infrastructure spending in the world’s fastest-growing economy. Bank of Baroda, the second-largest state-owned lender, has expanded its total assets by nearly 75% to 21 trillion rupees ($219 billion) as of March-end over the last five years. That compares with a near-72% growth at State Bank of India and roughly 57% at third-ranked state-owned rival Punjab National Bank . The bank, founded by a king in 1908 in the western part of India, has a reasonably strong global footprint, serving over 183 million customers acro...
jabkitticha/iStock via Getty Images Quarterly Snapshot Performance The Strategy declined 0.52% (net of fees) and the Russell 3000 Index declined 3.96%. Key Drivers Both stock selection and an overweight to industrials as well as our underweight to information technology were the primary drivers of outperformance during the quarter while financials were the largest relative negative. Summary The co...
jabkitticha/iStock via Getty Images Quarterly Snapshot Performance The Strategy declined 0.52% (net of fees) and the Russell 3000 Index declined 3.96%. Key Drivers Both stock selection and an overweight to industrials as well as our underweight to information technology were the primary drivers of outperformance during the quarter while financials were the largest relative negative. Summary The conflict in the Middle East is creating elevated near-term uncertainty, and we continue to evaluate the war's broad economic impacts. We continue to find attractive opportunities among large-cap, high-quality, cash-generative, more defensive businesses. Market and portfolio review Broad US equity markets declined during the quarter, with the Russell 3000 falling 3.96%, while performance across the cap spectrum was mixed. Small- and mid-cap stocks held up relatively better, with the Russell 2000 and Russell Midcap returning 0.89% and 1.29%, respectively, while large caps lagged meaningfully (-4.18%). Despite a sharp selloff in March, smaller capitalization stocks have maintained their relative outperformance year to date. The quarter was characterized by increased volatility driven by a combination of geopolitical developments and evolving expectations around artificial intelligence (AI). Escalating tensions in the Middle East and the associated rise in oil prices added to macro uncertainty, while ongoing debate around AI's long-term implications — particularly disruption risks — continued to influence market leadership. From a sector perspective, energy was far and away the best-performing sector, advancing 38% as oil prices rose sharply due to supply concerns following the closure of the Strait of Hormuz. Materials followed in a distant second (+9.5%). Financials (-9.0%), information technology (-9.1%) and consumer discretionary (-9.1%) were nearly tied as the worst-performing sectors in the quarter. Although our overall underweight to the information technology sector was a...
(RTTNews) - Indian shares were slightly higher in early trade on Thursday as oil prices stabilized and investors pinned hopes on U.S.-China talks yielding positive results on the Iran war.
(RTTNews) - Indian shares were slightly higher in early trade on Thursday as oil prices stabilized and investors pinned hopes on U.S.-China talks yielding positive results on the Iran war.
Earnings Call Insights: Altimmune (ALT) Q1 2026 Management View "In April, we completed an oversubscribed public offering resulting in $225 million in gross proceeds" and "the proceeds from the April offering, along with our existing funds, resulted in a cash balance of approximately $535 million as of April 30," Jerome Durso said (Chairman, CEO & President). "We now have the financial resources t...
Earnings Call Insights: Altimmune (ALT) Q1 2026 Management View "In April, we completed an oversubscribed public offering resulting in $225 million in gross proceeds" and "the proceeds from the April offering, along with our existing funds, resulted in a cash balance of approximately $535 million as of April 30," Jerome Durso said (Chairman, CEO & President). "We now have the financial resources to fully fund the company through our Phase III MASH 52-week data readout, which is expected in 2029," Durso said (Chairman, CEO & President), adding, "We expect to initiate our global Phase III study in MASH in the second half of this year" and "the MASH Phase III trial will be called the PERFORMA trial." "We remain on track to report top line data from our Phase II trial next quarter" in alcohol use disorder (AUD), and "in ALD, we now expect to complete enrollment of the RESTORE trial in the third quarter of this year," Durso said (Chairman, CEO & President). "A key strategic focus for the company was securing access to the capital required to successfully drive our clinical programs" and "as of March 31, we reported total cash of $332 million," Gregory Weaver said (Chief Financial Officer), adding, "on a PERFORMA basis, our cash position as of April 30 was $535 million." Outlook "We are well on our way towards initiating the study in the second half of the year," Christophe Arbet-Engels said (Chief Medical Officer), and "this is an important milestone in our global development strategy as the data from the PERFORMA Phase III trial will form the basis for regulatory submissions in multiple regions." "We will introduce the 2.4 milligram pemvidutide dose in Phase III," Arbet-Engels said (Chief Medical Officer), describing PERFORMA as "an event-driven study" with "the interim analysis" at "52 weeks based on biopsy" and stating, "There is no other interim analysis that is planned than these two." "We have another milestone approaching this year with the top line data from the ...