Cerebras raised $5.5 billion in its May 14 IPO, priced at $185 a share. TechCrunch reported the stock then rose 108%, and CNBC noted it opened at $385. The company, a Nvidia competitor that is a close partner of OpenAI, said through its CFO that its inference business is sold out into 2027.
Crunchbase later reported that the shares had fallen by about a third from the initial closing price, a reminder of how volatile newly listed AI hardware names can be.
The listing kicked off 2026's IPO season and helped set the stage for other chip startups, with SambaNova valued at $11 billion in July and considering a 2027 IPO.
Source: TechCrunch