Cerebras Shares Soar In First Day On Nasdaq

Shares of Cerebras Systems closed up 68% at $311.07 on Thursday, their first day of trading on the Nasdaq, valuing the company at an estimated $86 billion. Shares had opened at $350 in their public-market debut on Thursday after pricing at $185 a piece the day before.

Shares of the company, which develops AI computing chips and large-scale AI systems, now trade under the ticker symbol CBRS. Earlier, Cerebras had priced its shares well above the projected range of $150 to $160, raising at least $5.55 billion for the company, according to a CNBC report. 

The IPO has been a long time coming for Sunnyvale, California-based Cerebras, which initially filed publicly for an IPO in September 2024. It withdrew the planned offering a year later, opting to continue raising capital in private markets.

Cerebras was a prodigious fundraiser as a private company. It secured $2.85 billion in equity funding and $1.85 billion in debt financing over the years, per Crunchbase data, securing most of that total in the past year.

The company’s largest venture stakeholders include Fidelity (11.3% of Class B common stock), Benchmark (9.5%), Foundation Capital (8.3%), Eclipse (7.3%) and Alpha Wave (6.5%). Benchmark, Foundation and Eclipse were lead investors in Cerebras’ $27 million Series A in 2016, so they appear poised to see the largest percentage gains on their holdings.

Investors in the Cerebras IPO, meanwhile, are banking on even more growth and valuation gains ahead. That said, growth of late has been impressive. Revenue increased to $510.0 million in 2025, representing year-over-year growth of 76%, and up more than sixfold over two years.

The company has an impressive list of partners and customers as well. Earlier this year, Cerebras signed a deal to partner with OpenAI in integrating its technology into OpenAI’s compute systems. Other customers listed on its website include Meta, AWS and IBM.

Looking ahead, Cerebras said in its IPO filing that it expects to invest more in research and development as well as sales and marketing. As for a marketing strategy, the company seems to have settled on speed, pitching itself as the builder of “the fastest AI infrastructure in the world.” 

In coming quarters, we’ll see if it succeeds in delivering on that promise at scale.

Related Crunchbase query: 

• Global IPOs For Venture-Backed Companies In 2026 

Illustration: Dom Guzman