AI chipmaker Cerebras targets $3.5 billion raise in IPO
By Jordan Novet
Published on May 4, 2026.
Artificial intelligence chipmaker Cerebras is aiming to raise up to $3.5 billion by selling 28 million shares for $115 to $125 each in an initial public offering. This could make the company worth $26.6 billion based on shares outstanding. The company has previously announced a venture round that gave it a $23 billion valuation. However, its business model is shifting from hardware sales to operating a cloud service based on its own chips.
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