Cerebras IPO shares practically doubled on their first day of buying and selling, opening at $350 after pricing at $185 per share on Wednesday night.
Abstract
- Cerebras raised $5.55 billion at $185 per share and opened Thursday at $350, the most important US tech IPO since Uber’s 2019 debut.
- The AI chipmaker carries a market capitalisation above $100 billion with OpenAI and Amazon Net Companies as anchor prospects.
- The debut is seen as a bellwether for a broader AI itemizing wave with OpenAI and SpaceX focusing on later-year choices in 2026.
Cerebras IPO shares opened at $350 on Thursday on the Nasdaq underneath the ticker CBRS, practically doubling from the $185 per-share value set the night earlier than. The AI chipmaker raised $5.55 billion from 30 million shares, making it the most important IPO by a US know-how firm since Uber’s 2019 debut.
On the open, Cerebras carried a market capitalisation above $100 billion. Shares had been halted briefly for volatility earlier than buying and selling round $324 within the afternoon. If underwriters train their choice to purchase a further 4.5 million shares, whole proceeds might attain $6.38 billion.
The providing priced effectively above its preliminary vary of $115 to $125 per share, which was revised upward twice earlier than touchdown at $185. The corporate had beforehand withdrawn its IPO submitting earlier than refiling on renewed investor curiosity. Cerebras reported $510 million in income and $237.8 million in web revenue for 2025, a pointy reversal from a near-$500 million web loss the 12 months earlier than.
The Nvidia challenger
Cerebras builds chips primarily based on its Wafer-Scale Engine structure, designed to deal with massive language mannequin workloads extra effectively than clusters of conventional GPUs. OpenAI has dedicated to $20 billion in chip purchases from Cerebras, and Amazon Net Companies has deployed the corporate’s CS-3 system on Amazon Bedrock.
CEO Andrew Feldman advised reporters that demand for Cerebras chips, used for AI inference particularly, just isn’t speculative. “We’re not in a state of affairs like Discipline of Desires, the place ‘if you happen to construct it, they’ll come,’” Feldman stated. “For those who ask Anthropic, if you happen to ask OpenAI, they’ve vastly extra demand for his or her providing than they’ve compute to make it.”
The Cerebras debut is being learn on Wall Road as a bellwether for a coming pipeline of AI listings. OpenAI is focusing on a regulatory submitting within the second half of 2026 after crossing $25 billion in annualised income. SpaceX, which merged with xAI in February, is individually eyeing a June Nasdaq itemizing at a reported valuation of as much as $1.75 trillion.
The VanEck Semiconductor ETF has gained 58% in 2026 as capital floods into AI {hardware}. Cerebras is the primary vital pureplay AI chip IPO on US markets and the primary notable tech providing in months, giving traders their clearest learn but on public market urge for food for AI infrastructure at scale.
