Cerebras raises $5.5B, then shares rise $108%, in first big IPO of 2026

Cerebras Systems raised $5.5 billion in its IPO on Thursday, shares priced at $185 on Wednesday evening, much higher than usual ($115 to $125, later increased to $150-$160), although they increased the size of the offering to 30 million shares.

Then it opened to public trading at $ 385, more than doubled (up to 108%), while traders are raising the price to capture them. The stock leveled off a bit recently. It is currently trading high during the day above $330.

Even at the IPO price of $185, the company entered its first day of trading at a total value of $56.4 billion (that is, counting all shares). Co-founder CEO Andrew Feldman’s value at $185/share is worth about $1.9 billion, while co-founder CTO Sean Lie’s net worth is about $1 billion.

And apparently, if the high price of $ 300 holds, the company and the founders will end the day more important than that.

A year ago, it seemed like this day would never happen for Cerebras. The Nvidia competitor, which made its chip giant from scratch, purpose-built AI, was the first complaint to go public in 2024. But concerns about the big investment in Abu Dhabi describing the Group 42 mired IPO in the review forever from the Committee on Foreign Investment in the United States (CFIUS). Investors were also positive about the financial situation: Group 42 accounted for almost all of Cerebras’ capital. So the IPO plans were shelved.

Ambitions for an IPO came to light again in April when the company he was able to account for double the amount: $510 million in 2025 (up to 76% per year), and from fewer customers. It also reported a big swing in profits – up to $237.8 million in net income – compared to a loss of nearly half a billion last year.

Investors began to spit.

Cerebras has now emerged as a major contender for providing microchips – the computer processing required for models to respond to requests – and counting OpenAI (in a complex circular connection), G42, Saudi a Mohamed bin Zayed University of Artificial Intelligence and Amazon Web Services as customers.