Cerebras Systems seeks up to $26.6B valuation in US IPO

Proactive

Mon, May 4, 2026 astatine 11:49 AM CDT 1 min read

Cerebras Systems is targeting a valuation of arsenic overmuch arsenic $26.62 cardinal successful its planned U.S. archetypal nationalist offering, according to its prospectus filings.

The semiconductor company, which is positioning itself arsenic a rival to Nvidia successful AI hardware, is looking to merchantability 28 cardinal shares of its Class A communal banal successful the offering, which is expected to beryllium priced betwixt $115 and $125 per share.

At the apical of that range, Cerebras aims to rise astir $3.50 billion.

Cerebras has applied to database its Class A communal banal connected the Nasdaq Global Select Market nether the ticker “CBRS.”

Morgan Stanley, Citigroup, Barclays, and UBS Investment Bank are serving arsenic pb book-running managers for the offering. Mizuho and TD Cowen are acting arsenic bookrunners, portion Needham & Company, Craig-Hallum, Wedbush Securities, Rosenblatt, Academy Securities, Crédit Agricole CIB, MUFG, and First Citizens Capital Securities are serving arsenic co-managers.

The listing marks the company’s 2nd effort to spell nationalist aft it withdrew a anterior IPO filing past October.

Cerebras develops wafer-scale motor chips designed to accelerate the grooming and inference of ample artificial quality models. The institution competes successful the rapidly expanding AI hardware marketplace alongside Nvidia and different semiconductor firms benefiting from rising request for high-performance computing infrastructure.

“By bringing monolithic compute and representation onto a azygous portion of silicon and integrating it into a purpose-built strategy and bundle stack, we present exceptional AI velocity for customers connected premises and via the cloud,” the institution said successful its filing.