Cerebras prices IPO above expected range, as Wall Street braces for AI tsunami
By Jordan Novet
Published on May 13, 2026.
Cerebras Systems, a maker of artificial intelligence chips, has priced its IPO at $185 a share above the expected range, bringing in $5.55 billion. The IPO comes as Wall Street prepares for a busy year for new AI offerings. The company, founded in 2016 and headquartered in Silicon Valley, is now worth $56.4 billion on a fully diluted basis. It is one of the largest tech IPOs in years, with Uber raising about $8 billion in 2019 and Snowflake's offering in 2020. Cerebras' co-founder and CEO, Andrew Feldman, now holds a stake worth about $1.9 billion.
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