Chip startup Cerebras is valued at $80 billion in a strong stock debut

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

Shortly after 1730 GMT, Cerebras was at $332.51, up nearly 80 percent on the Nasdaq exchange after earlier hitting $385. The market’s strong opening underscores the demand for equities tied to the artificial intelligence investment boom.