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Cerebras Prices AI Chip IPO Above Range, Raising $5.55 Billion

Cerebras Systems, a Silicon Valley artificial intelligence chip manufacturer, priced its initial public offering at $185 per share Wednesday, exceeding analyst expectations. The offering generated $5.55 billion in proceeds from 30 million shares sold, making it among the largest technology IPOs in recent years. Underwriters hold options to purchase an additional 4.5 million shares. Co-founder and CEO Andrew Feldman's stake is valued at approximately $1 billion following the pricing. The company will trade on Nasdaq under ticker CBRS with a market capitalization of $56 billion. Cerebras' public debut comes amid surging investor appetite for semiconductor plays beyond Nvidia. Intel, AMD and Micron each gained more than 80 percent in recent weeks. The listing marks a return to public markets for the chipmaker after it withdrew a previous IPO filing in September 2024.