Arm, SoftBank Failed to Acquire Cerebras Before Record AI Chip IPO

14 May 2026 · Source balance: Centre

Arm Holdings and its parent company SoftBank made a last-minute acquisition approach to Cerebras Systems just weeks before the AI chipmaker's initial public offering. Cerebras rejected the offer and proceeded with its IPO as planned. On May 14th, 2026, Cerebras priced its shares at 185 dollars, significantly above its revised guidance range, raising 5 point 5 5 billion dollars. The company is now valued at approximately 56 billion dollars on a fully diluted basis. Cerebras designs large specialized chips for AI workload processing and now competes directly with Nvidia. The company has secured major contracts including a 20 billion dollar agreement with OpenAI and a partnership with Amazon Web Services. SoftBank's bid appears part of a broader strategy to expand its chipmaking exposure, following its 6 point 5 billion dollar acquisition of Ampere Computing in late 2025.