Cerebras Systems Inc. has selected Morgan Stanley to lead its initial public offering, marking the AI chipmaker's renewed attempt to go public. The offering could raise approximately $2 billion in a listing as early as April, according to people familiar with the matter. The company has filed fresh IPO paperwork and is preparing to meet with analysts and prospective investors this month.

The move comes as demand for specialized AI hardware surges, with Cerebras positioning itself as a competitor to Nvidia in the high-performance computing space. The company's wafer-scale engine technology has attracted attention from major tech firms and research institutions. Morgan Stanley's involvement signals confidence in the company's growth trajectory and market potential.

This IPO represents a significant test for the AI hardware sector, which has seen massive investment but limited public exits. Success could validate the business models of specialized AI chip companies and potentially open the door for similar offerings. The timing aligns with broader market enthusiasm for AI-related technologies, though investors will scrutinize Cerebras' path to profitability amid intense competition in the semiconductor industry.