[Arm and SoftBank Proposed Acquisition Before Cerebras IPO but Were Rejected] DeepTech TechFlow reports that on May 13, Arm (ARM.O) and its major shareholder SoftBank Group approached the leading U.S. AI chip company Cerebras Systems a few weeks before its IPO, expressing acquisition intentions. According to insiders, Cerebras Systems rejected the proposal. Cerebras plans to price its IPO on Wednesday, with the company's valuation potentially reaching approximately $34 billion. Earlier reports indicated that the company informed potential investors that the IPO pricing is expected to exceed the upper limit of its issuance range, with the final valuation still subject to adjustment based on the actual number of shares issued. Cerebras is poised to become the largest public offering transaction so far this year and has previously hinted at the possibility of setting the IPO price above the $150 to $160 issuance range if market demand remains strong. (Jin10)