The stock of artificial intelligence (A.I.) chipmaker Cerebras Systems (NASDAQ: $CBRS) nearly doubled in its market debut, opening at $350 U.S. per share after pricing shares at $185 U.S.
Cerebras began trading on the Nasdaq (NASDAQ: $NDAQ) exchange May 14 under the ticker symbol “CBRS.” The chipmaker started trading with a market capitalization above $100 billion U.S. in what’s being called a “blockbuster” initial public offering (IPO)
More From Cryptoprowl: Cerebras sold 30 million shares as part of its IPO, raising $5.55 billion U.S. of capital for the company in the process. The Cerebras Systems IPO is the largest for a U.S. technology company since Uber’s (NYSE: $UBER) market debut in 2019. The Cerebras IPO was heavily hyped and analysts say it is benefiting from the current A.I. boom on Wall Street.
Cerebras is a direct competitor to leading chipmaker Nvidia (NASDAQ: $NVDA) and the biggest pureplay A.I. company to hold an IPO in months. Cerebras Systems is leading what’s expected to be a wave of historic IPOs this year, including Elon Musk’s SpaceX and A.I. startup Anthropic. There were only 31 technology IPOs held in 2025, down from 121 in 2021, according to market data.