AI chipmaker Cerebras raises valuation above marketed range in largest IPO of 2026, reflecting strong investor demand.
Cerebras Systems priced its initial public offering at $185 per share, above its $150-$160 marketed range, valuing the company at approximately $40 billion based on outstanding shares. On a fully diluted basis, the valuation nears $49 billion.
The AI chipmaker initially offered 30 million shares, later increasing both the size and price range due to robust demand. Investor appetite exceeded available shares by over 20 times, according to data. The IPO marks the largest of 2026 so far, highlighting momentum in the AI semiconductor sector.
Shares will debut on the Nasdaq under the ticker CBRS. Cerebras has partnered with major AI players, including Amazon and OpenAI, which recently launched a model running on its chips.