United States · Business news · IPO & Capital Markets · 14 May 2026
AI chipmaker Cerebras Systems sold 30 million shares at $185, above a range that had already been lifted to $150-$160 from $115-$125, raising about $5.5 billion. The stock opened far above the offer price on Nasdaq and finished its first day at $311, a valuation of about $66 billion. Cerebras reported 2025 revenue of $510 million, up 76%, and net income of $237.8 million; its customers include OpenAI, G42 and Amazon Web Services.
It was the first very large US tech IPO of 2026 and a direct test of investor appetite for alternatives to Nvidia in AI inference chips. The reception is a reference point for listed AI-hardware peers and for AI and data-centre companies waiting to list. Customer concentration remains a risk: G42 once accounted for almost all of Cerebras' revenue, one reason an earlier IPO attempt was shelved.
Reported by TechCrunch (via Yahoo Finance) — “Cerebras raises $5.5B, then stock pops $108%, in the first huge tech IPO of 2026” ↗ on 14 May 2026.
Official series on 14 May 2026 or the last day before it, and the latest observation.
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