Cerebras prices IPO at $185 a share, raising $5.55 billion
AI chipmaker Cerebras priced its initial public offering at $185 per share, above the marketed range, to raise about $5.55 billion. The deal values the Sunnyvale-based startup at more than $40 billion. It marks one of the largest US tech listings of the year and a fresh gauge of investor appetite for AI infrastructure.
AI chip designer Cerebras Systems priced its initial public offering at $185 per share late Wednesday, above the marketed range of $170 to $182, according to sources familiar with the deal. The pricing raises roughly $5.55 billion for the Sunnyvale-based company and values the firm at more than $40 billion fully diluted, marking one of the largest US technology listings of 2026.
Cerebras designs wafer-scale processors aimed at training and running large language models, positioning the company as a direct alternative to Nvidia's dominant graphics processing units. Founded in 2015, the firm has secured contracts with research labs and government clients, including a major deal with the United Arab Emirates' G42.
The strong pricing follows a string of upsized AI listings this quarter and signals continued investor appetite for companies tied to artificial-intelligence infrastructure. Shares are expected to begin trading on the Nasdaq under the ticker CBRS on Thursday. Demand was reported to be many times oversubscribed, with allocations heavily concentrated among long-only institutional buyers.
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