Cerebras IPO: Shares Nearly Double at Open, Valuing Chipmaker at $100B+
AI chipmaker Cerebras debuted on Nasdaq today, raising $5.5B at $185 per share before opening at $350—nearly doubling—to reach a $100B+ market valuation. The offering marks the largest US tech IPO since Uber's 2019 debut and signals sustained institutional appetite for AI infrastructure plays outside Nvidia. Cerebras builds wafer-scale chips purpose-designed for large-scale AI inference.
Why It Matters
A $100B valuation at open confirms that AI chip alternatives to Nvidia are attracting serious capital, not just interest. This IPO sets a pricing benchmark for the AI infrastructure category entering the second half of 2026.