Cerebras IPO 20x oversubscribed at $48.8B; Apple iOS 27 opens AI, Nvidia-IREN 5GW deal

AI chip maker Cerebras Systems upped its IPO pricing band from $115–125 to $150–160 on May 11 with shares raised to 30 million. Twenty-times oversubscription allowed up to $4.8B raised at a fully diluted $48.8B valuation; pricing set for May 13. Apple will let iOS 27, iPadOS 27, and macOS 27 users swap Google, Anthropic, and other third-party AI via 'Extensions'—with rollout at June WWDC. Nvidia inked a maximum 5GW AI infrastructure pact with IREN for $2.1B and $70-per-share purchase rights.