Investor’s Business Daily, Market Watch, and Axios contributed to this report.
Cerebras Systems just had the kind of IPO most startups only dream about. The Silicon Valley AI chipmaker raised $5.6 billion, making it the biggest offering of the year and then some.
The deal landed well above expectations. Cerebras priced shares at $185 apiece, far above its first target range of $115 to $125 and even above a later range of $150 to $160. That puts the company’s starting market value near $40 billion, about 73% higher than what it fetched in its last funding round just four months ago.
A big part of the draw is timing. Semiconductor stocks have been on a tear, and Cerebras is riding that wave straight into public markets.
The company has already pulled in about $3 billion from backers including Alpha Wave, Benchmark, Eclipse, Fidelity and Foundation Capital. Other investors on the ride include AMD, Coatue, Bow River Capital, Altimeter, 1789 Capital, DataPower Capital, Flybridge and Atreides Management.
It also took a few tries to get here. Cerebras scrapped IPO plans in both 2024 and 2025 before finally making it work this time.
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