Cerebras Systems began trading on the Nasdaq Stock Market on Thursday under the ticker symbol CBRS, completing one of the most highly anticipated initial public offerings in the artificial intelligence sector.
The Sunnyvale, California-based company opened for trading at $350/share above its pricing of $185, raising $5.55 billion and implying a valuation of approximately $56.43 billion on a fully diluted basis. According to Reuters, the offering was reportedly oversubscribed roughly 20 times, a signal of outsized institutional appetite for AI infrastructure investment.
At its bell-ringing ceremony, Cerebras founder and CEO Andrew Feldman celebrated the company’s entrance into the public markets and thanked the team that helped build Cerebras into what it is today.
“For our founders — for Sean, Michael, Gary, and JP — this is the work of our lives, this is what we feel we were built to do,” Feldman said. “We couldn’t be more proud to celebrate together.”
Nelson Griggs, President of the Nasdaq Stock Exchange, welcomed Cerebras onto its exchange at the bell ringing, highlighting the company’s innovative approach to AI infrastructure.
“Cerebras has fundamentally changed and reimagined what compute can be, and that’s a result of their deep culture of courageous engineering and a relentless drive to build a processing unit that has never been built before,” Griggs said.
Founded in 2015 by Andrew Feldman, Gary Lauterbach, Michael James, Sean Lie, and Jean-Philippe Fricker, Cerebras builds computer systems for complex AI deep learning applications. One of the company’s central technological initiatives is its proprietary Wafer Scale Engine — a processor that, rather than being cut from a standard silicon wafer like conventional chips, uses nearly an entire 300-millimeter wafer of silicon to make a single chip. The latest generation, the WSE-3, has 4 trillion transistors and 900,000 AI-optimized cores, delivering 125 petaflops of peak AI performance.
According to Cerebras, the architecture delivers unmatched performance and speed. Cerebras says its inference platform can achieve speeds up to 15 times faster than GPU-based solutions — a datapoint that has drawn significant attention from hyperscalers and enterprises alike.
That attention has translated into revenue. According to its IPO filing, in 2025, Cerebras reported $510 million in total revenue, up 76% year-over-year, swinging to $237.8 million in net income from a net loss of $481.6 million the prior year. The company has also secured high-profile commercial partnerships: so far in 2026, Cerebras has inked multi-year deals with OpenAI and Amazon Web Services.
With a landmark OpenAI partnership, a multi-billion-dollar revenue backlog, and a chip architecture that has captured the imagination of the industry, Cerebras arrives on the public markets in a position of strength, marking a milestone for Cerebras and the broader AI hardware ecosystem.
Information is provided for educational purposes only. The content does not attempt to examine all the facts and circumstances which may be relevant to any particular company, industry or security mentioned herein and nothing contained herein should be construed as legal or investment advice. Nasdaq does not recommend or endorse any securities offering; you are urged to read the company’s SEC filings, undertake your own due diligence and carefully evaluate any companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
