Wafer-scale chip designer Cerebras Systems raised $5.55 billion from the sale of 30 million shares, resulting in the largest IPO for a US tech company since 2019.
The company, which had initially priced its shares at $185 – a figure that was already above the expected range – opened at $350 a share. The price then rose to $386, before eventually closing at $311 on May 14, giving it a market cap of about $95 billion.
At the time of writing, the company is trading at just under $308 a share.
Cerebras CEO, Andrew Feldman – Sebastian Moss
Cerebras filed to go public on April 18, 2026, having reported $87.9m in net income on $510m in revenue during 2025. Revenue was up 76 percent from 2024, with the company reporting a $485m net loss at the time.
