Cerebras prices IPO above range, sets Nasdaq debut under CBRS at $40 billion valuation

Cerebras Systems is set to begin trading on the Nasdaq on May 14, 2026, under the ticker CBRS after pricing its initial public offering at $185 a share, above its marketed range, in the largest IPO of 2026 so far. The AI chipmaker’s IPO price values the company at about $40 billion based on outstanding shares disclosed in regulatory filings. On a fully diluted basis, the valuation approaches $49 billion, according to Bloomberg data. Cerebras had most recently marketed 30 million shares at $150 to $160 each after increasing both the offering size and price range. Investor demand exceeded available shares by more than 20 times, Bloomberg reported. The listing highlights continued investor appetite for AI semiconductor companies seeking to compete with Nvidia (NVDA). Cerebras has partnerships with Amazon (AMZN) and OpenAI, which earlier in 2026 launched an AI model running on Cerebras chips.