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Cerebras Surges 68% in Year's Largest IPO, Valuing AI Chipmaker at $95 Billion

Cerebras Systems made a commanding market debut Thursday, with shares jumping 68% on the Nasdaq in the year's largest IPO. The AI chipmaker raised $5.5 billion, reflecting robust investor appetite for companies positioned in artificial intelligence infrastructure buildout. The strong reception underscores Wall Street's confidence in semiconductor manufacturers supplying data center operators racing to deploy AI capabilities. Cerebras founder and CEO Andrew Feldman, a serial entrepreneur with prior exits, now holds a stake valued at $3.2 billion. The IPO highlights a broader surge in technology offerings, as financial institutions prepare additional data center companies for public markets. Specialized processor demand continues accelerating amid widespread AI adoption across industries.