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Cerebras Surges on Nasdaq Debut, Valued Above $100 Billion

Cerebras Systems opened trading Thursday at $350 per share on Nasdaq, more than doubling its $185 IPO price. The robust market reception valued the chipmaker above $100 billion. The company raised $5 billion by selling 30 million shares, with potential proceeds reaching $6 billion if underwriters exercise options for 4.5 million additional shares. The Silicon Valley-based processor manufacturer represents the largest pure-play AI chipmaker to go public, marking a significant milestone as the first notable technology offering in months. Cerebras posted 76% revenue growth last year to $510 million, driven by recent commercial partnerships including deals with Amazon and OpenAI. The strong debut reflects investor appetite for artificial intelligence infrastructure plays, as semiconductor stocks broadly gain ground this year.