Overview
- Cerebras, which priced its IPO at $185 on Wednesday, opened Thursday at $350 and briefly topped a $100 billion market value.
- The company makes a single‑wafer processor for AI inference, an approach that puts all compute on one giant chip rather than stitching together GPU clusters from rivals like Nvidia.
- The offering raised about $5.55 billion as shares began trading under the ticker CBRS on Nasdaq.
- Investor orders reportedly exceeded available shares by more than 20 times, and Cerebras had lifted both its price range and share count during the roadshow.
- Stronger footing underpins the listing, with 2025 revenue at $510 million and a swing to roughly $88 million in net income after cutting reliance on UAE partner G42 to 24% from 85% in 2024, plus a reported $20 billion OpenAI deal, an AWS partnership, and $24.6 billion in contracted revenue.