The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Robert Cyran

NEW YORK, May 12 (Reuters Breakingviews) - Chipmaker Cerebras, geothermal power producer Fervo and a Blackstone data-center REIT aim to raise some $8 bln combined this week. The enthusiasm for largely speculative ventures is a worrying sign of herd mentality. If the fever fades, renewable energy will be the safer choice.

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CONTEXT NEWS

Cerebras Systems, a maker of semiconductors used in artificial intelligence, said on May 11 that it would seek to sell 30 million Class A shares at between $150 and $160 apiece in its initial public offering compared to its previous plan of 28 million shares at $115 to $125. At the top end of the range, the company would raise roughly $4.8 billion.

Morgan Stanley, Citigroup, Barclays and UBS are the lead advisers on the IPO.

Fervo Energy, which develops advanced geothermal power projects, said on May 11 that it plans to sell 70 million shares at $25 to $26 each, after initially proposing 55.6 million shares at between $21 and $24. At the top end of the range, the company would raise about $1.8 billion and be valued at $7.4 billion.

JPMorgan, BofA, RBC Capital Markets and Barclays are the joint lead bookrunning managers.

Blackstone Digital Infrastructure Trust, which intends to buy data centers rented to investment-grade hyperscalers, said on May 4 that it was offering 87.5 million shares at $20 each. IPO investors will receive bonus shares representing 1% of their investment.

Goldman Sachs, Citigroup, Morgan Stanley, Barclays, BofA, Deutsche Bank, JPMorgan, RBC Capital Markets and Wells Fargo are joint lead bookrunning managers.