Chip startup Cerebras hits $80 bn in value in strong stock debut

Shares of US chip startup Cerebras Systems surged Thursday in its trading debut, more than doubling at one point and hitting a market value of $80 billion.

Shortly after 1730 GMT, Cerebras stood at $332.51, up around 80 percent on the Nasdaq exchange after earlier reaching $385. The strong market debut underscores demand for equities tied to the artificial intelligence investment boom.