Cerebras Systems Skyrockets by 108% in Record-Breaking AI Chip IPO of 2026
Cerebras Systems made a resounding entry on Wall Street on Thursday. Shares soared more than double on their first day of trading, marking the most significant tech IPO of 2026. The AI chipmaker set its offering at $185 per share on May 13, raising a staggering $5.55 billion. It then surged to open at $385 before settling around $311 by the end of the day.
Established in 2016, the Silicon Valley-based company manufactures the Wafer Scale Engine 3 (WSE-3), hailed as the world’s largest AI processor—58 times bigger than leading GPU chips. Cerebras asserts that its technology delivers AI inference up to 15 times faster than GPU-based solutions while using a fraction of the power.
Andrew Feldman, the CEO whose stake is now valued at nearly $2 billion at the IPO price, disclosed to CNBC that the company has secured major clients. These include:
- OpenAI
- Amazon Web Services
- Mohamed bin Zayed University of Artificial Intelligence in the UAE
The company’s revenue surged 76% to $510 million in 2025, swinging from a $500 million loss to a $237.8 million profit.
The triumphant IPO signals a revived investor appetite for AI infrastructure companies. It could potentially pave the way for other anticipated tech offerings from SpaceX, OpenAI, and Anthropic later this year.
Source: CNBC