Cerebras Systems (CBRS) shares fell more than 5% in premarket trading on May 15, 2026, the stock's second day of trading. The decline followed a market debut on May 14. The company priced the IPO at $185 per share. The stock closed its first session at $311.07. This price represented a 68% surge from the initial offering.
The offering raised $5.55 billion. It stands as the largest U.S. technology IPO of 2026. Investors reportedly oversubscribed the offering by 20 times.
A broader semiconductor sector sell-off triggered the second-day pullback. Analysts indicate Cerebras must now justify its high valuation against dominant market competitors.