Cerebras Systems (CBRS) debuted on the Nasdaq with its stock opening at $353 per share. The company priced its initial public offering at $185. This price exceeded the revised target range of $150 to $160.
The offering of 30 million shares raised approximately $5.55 billion. This marks the largest U.S. technology IPO since Uber in 2019.
The opening surge pushed the company’s valuation over $100 billion. Cerebras develops specialized wafer-scale processors to accelerate artificial intelligence workloads.
The company competes directly with Nvidia in the AI hardware market. The successful debut signals intense investor demand for high-growth AI infrastructure.