Cerebras Systems made a remarkable debut on the Nasdaq, opening at $350 per share significantly above the initial $185 offering price valuing the Silicon Valley chipmaker at over $100 billion.
The company raised $5.55 billion by selling 30 million shares late Wednesday, marking the largest U.S. tech IPO since Uber in 2019.
With an option for underwriters to purchase an additional 4.5 million shares, total proceeds could reach up to $6.38 billion.
Benefiting from the surge in artificial intelligence, Cerebras joins a semiconductor sector that has experienced substantial gains this year, with industry giants like Intel, AMD, and Micron achieving triple-digit increases.
The VanEck Semiconductor ETF has soared 58% so far in 2026.
The growing demand for AI-driven automation has further fueled interest in Nvidia’s leading GPUs and traditional CPUs, highlighting a transformative period for the tech industry driven by AI advancements.
Source (CNBC)
