AI chipmaker Cerebras Systems priced its initial public offering at $185 per share.
The final price sits significantly above the revised target range of $150 to $160.
The offering raised $5.55 billion in capital.
Cerebras reached a fully diluted valuation of approximately $56.4 billion.
This transaction stands as the largest U.S. IPO completed so far this year.
Strong investor appetite for artificial intelligence technology fueled the increased price range and share count.
Trading begins on the Nasdaq under the ticker symbol CBRS.