Cerebras to debut on Nasdaq after $5.55 billion IPO amid AI stock surge

Cerebras is set to begin trading on the Nasdaq Global Select Market on May 14, 2026, under the ticker CBRS after raising $5.55 billion in an upsized initial public offering, the largest U.S. IPO of the year. The AI chipmaker’s offering values the company at $56.43 billion on a fully diluted basis. The Sunnyvale, California-based company competes with Nvidia and designs wafer-scale processors intended to accelerate AI workloads. Reuters reported the deal drew orders for more than 20 times the available shares, reflecting strong demand for AI-linked listings. The debut follows Cerebras’ abandoned listing attempt in 2025, when its ties to UAE-based AI firm G42, which supplied more than 85% of 2024 revenue, triggered a U.S. national security review. Cerebras has since added Amazon and OpenAI as customers. The Dow Jones U.S. Semiconductors Index has gained more than 107% over the past year, compared with a roughly 26% rise in the S&P 500.