Cerebras · Sam Altman · Microsoft · Snowflake · OpenAI · Google · CNBC Technology
Cerebras prices IPO above expected range, as Wall Street braces for AI tsunami
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Cerebras Systems, a maker of artificial intelligence chips, priced its IPO at $185 a share, above the expected range, as investors gear up for what's expected to be a busy year for new AI offerings.
Key facts
- On May 4, Cerebras said it was looking to sell 28 million shares at $115 to $125 per share
- Uber raised about $8 billion in 2019, and the biggest since then for a U.S. tech company was Snowflake's offering in 2020, which brought in over $3.8 billion
- Other Cerebras investors include Fidelity, with a stake valued at about $3.8 billion, and Benchmark, which owns roughly $3.3 billion worth of shares
- Brockman held about 78,000 shares of Cerebras at the end of 2025, according to a filing in the case, which would be worth $14.4 million at the IPO price
Summary
The IPO reeled in $5.55 billion for Cerebras, which sold 30 million shares, according to a statement on Wednesday. Cerebras' offering is one of the largest tech IPOs in years. At the IPO price, Cerebras is now worth $56.4 billion on a fully diluted basis. Founded in 2016 and headquartered in Silicon Valley, Cerebras has faced a rocky road getting to the Nasdaq, where it will trade under ticker symbol CBRS.