exceed recent semiconductor IPOs, including Arm Holdings' roughly $54 billion valuation at its 2023 debut and Cerebras Systems' approximately $56 billion fully

exceed recent semiconductor IPOs, including Arm Holdings' roughly $54 billion valuation at its 2023 debut and Cerebras Systems' approximately $56 billion fully diluted valuation in its 2026 IPO. Investors will need to ask whether a storage-focused company deserves to trade at nearly three times tho…