Cerebras pops 68% in Nasdaq debut, pushing the AI chipmaker's market cap to $95 billion
Cerebras pops 68% in Nasdaq debut, pushing the AI chipmaker's market cap to $95 billion … Cerebras Systems soared 68% in its Nasdaq debut on Thursday, closing at $311.07 after selling shares at $185, well above the company's expected range. That values the chipmaker at about $95 billion.
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Cerebras IPO Explodes: Shares Nearly Double on Nasdaq Debut
AI chipmaker Cerebras opens at $350 per share, nearly doubling its $185 IPO price and crossing a $100B valuation.
Cerebras Systems just pulled off a monster IPO. The AI chipmaker hit the Nasdaq on Thursday, opening at $350 per share — nearly double its $185 offering price. That puts the company's valuation north of $100 billion.
The numbers are staggering. Cerebras sold 30 million shares and raised $5.5 billion in the process. It's the largest U.S. tech IPO since Uber went public back in 2019.
The $185 price tag already came in well above the company's expected range, but the market wanted more. Way more. That kind of first-day pop signals massive investor appetite for AI infrastructure plays.
For a chipmaker competing in the white-hot AI accelerator space, this debut sets a high bar — and an even higher set of expectations going forward.