AI Chipmaker Cerebras Surges 108% in Trading Debut

TigerMay 14, 2026 5:03 PM

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AI chipmaker Cerebras Systems surged 108.1% in trading debut.

Cerebras Systems priced its U.S. initial public offering at $185 per share on Wednesday, above the top end of its indicated price range, the company said.

The IPO raised $5.55 billion for Cerebras, based on 30 million shares sold. It implies a valuation on Cerebras on a fully diluted basis of $56.43 billion, making it the ⁠largest stock market debut so far this year.

Founded in 2015, Cerebras makes specialized chips for running advanced AI models, competing in a market dominated by Nvidia. Demand for Cerebras' ⁠processors has surged as AI labs shift from training models to deploying them.

Revenue at Sunnyvale, California-based Cerebras rose to $510 million in the year ended December 31, from $290.3 million a year earlier, according ⁠to a filing with the SEC.

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