Cerebras Systems’ AI Chip IPO Skyrockets by 68% in Stellar Nasdaq Introduction
Cerebras Systems made a remarkable debut in the public markets on May 14, 2026. The company’s shares skyrocketed by 68% on their first day of trading, indicating a strong investor interest in artificial intelligence infrastructure companies.
The AI chipmaker set the price for its initial public offering at $185 per share. By selling 30 million Class A shares, the company raised $5.55 billion. The shares, trading under the ticker symbol CBRS on the Nasdaq, opened at $350 and peaked at $385 before closing at $331.07. This gave the company a market capitalization of approximately $95 billion.
The offering marks the largest IPO by a U.S. tech company since Uber’s 2019 debut. It was more than 20 times oversubscribed, demonstrating exceptional demand from institutional investors. CEO Andrew Feldman, who co-founded the company in 2016, now holds a stake worth approximately $3.2 billion.
Cerebras specializes in wafer-scale AI processors. These chips, roughly the size of a dinner plate, are significantly larger than traditional GPUs. The company has secured major contracts with OpenAI worth over $20 billion through 2028. It also has partnerships with Amazon Web Services to deploy its chips in data centers.
However, shares fell 10% on Friday following the debut. Some analysts expressed caution about customer concentration risks and the company’s premium valuation. The IPO sets the stage for what could be a wave of major AI-focused public offerings. SpaceX, OpenAI, and Anthropic are potentially going public later this year.
Source: CNBC