Cerebras (CBRS) IPO started trading at $385.
The IPO price was set at $185 raising $5.5B at the IPO price
Investor in at the IPO price are already up 108.11%. Cerebras is an AI chip designer that competes with Nvidia, known for its Wafer-Scale Engine (WSE) — a single chip designed to handle the computational demands of large language models more efficiently than clusters of traditional GPUs. Rather than cutting many small chips from a silicon wafer like the rest of the industry, the WSE-3 uses the entire wafer as a single chip — roughly 57 times larger than the largest competing GPU die — giving it vastly more on-chip memory, more processing cores, and higher interconnect bandwidth, all without the latency of communicating across a multi-chip GPU cluster.
The core pitch is speed: fewer systems, less power, less cooling infrastructure — what Cerebras calls the fastest AI inference infrastructure in the world. The IPO Cerebras raised $5.55 billion in its IPO, pricing shares at $185 each — well above the marketed range of $150–$160 — making it the largest IPO of the past 12 months. At the IPO price, Cerebras is valued at $56.4 billion on a fully diluted basis, with the stock trading on Nasdaq under ticker symbol CBRS.