Cerebras Raises $5.6 Billion in Year's Largest IPO at $185 Per Share

Cerebras Systems, a Silicon Valley-based AI chipmaker, raised $5.6 billion in its IPO today, pricing shares at $185 each—well above the revised $150–$160 range. The offering gives the company an initial market cap of nearly $40 billion, representing a 73% increase from its Series H funding round four months ago. The IPO marks Cerebras' third attempt to go public after previous plans were shelved in 2024 and 2025.
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