Anthropic · Cerebras · OpenAI · Nvidia · Amazon · SpaceX · CNBC Technology
Cerebras' blockbuster IPO boosts hype for SpaceX and OpenAI, but crowds out smaller players
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Cerebras Systems ' raucous IPO this week gave investors a taste of what's to come in artificial intelligence.
Key facts
- Shares of the AI chipmaker popped almost 70% in their market debut on Thursday, lifting the company's market cap to about $95 billion
- It's hard to care about anything other than the $3 trillion potential IPOs that, in theory, are going to happen in the next year," Sam Lessin, a partner at Slow Ventures, told CNBC's "The Exchange
- In February, Musk merged SpaceX with xAI, his AI startup, in a deal valued at $1.25 trillion
- Earlier this year, Cerebras signed a $20 billion deal with OpenAI and an agreement with Amazon Web Services
Summary
Shares of the AI chipmaker popped almost 70% in their market debut on Thursday, lifting the company's market cap to about $95 billion. Cerebras also holds the distinction of largest IPO of the year and the biggest offering for a U.S. tech company since Uber hit the market in 2019. While the excitement around Cerebras would seem to bode well for a tech IPO market that's been largely dormant for the past four-plus years, the problem for about every company in the pipeline is that they're not named SpaceX, OpenAI or Anthropic. Those three companies, each valued near or above $1 trillion, are in some stage of IPO prep, with SpaceX expected to file its public prospectus as soon as next week and the other two eyeing debuts later this year.