AI chipmaker Cerebras raises $5.55 billion in IPO, the largest to date in 2026

According to Bloomberg, AI chip company Cerebras raised $5.55 billion in its U.S. initial public offering (IPO), making it the largest IPO since 2026. Its offering price was set at $185 per share—above the previously announced range of $150 to $160—implying a market capitalization of approximately $40 billion and a fully diluted valuation of about $49 billion. The report states that the offering was oversubscribed by more than 20 times, and the shares are expected to begin trading under the ticker symbol “CBRS” on the Nasdaq Global Select Market. Regulatory filings indicate that OpenAI holds 33.4 million Cerebras warrants, with certain vesting conditions tied to computing-power delivery milestones and Cerebras’ market capitalization exceeding $40 billion.