Cerebras Systems Raises $6.38 Billion in 34.5M-Share IPO
Cerebras Systems completed its IPO of 34.5M Class A shares, raising $6.38B in gross proceeds with underwriters exercising their full 4.5M share option. Class A common stock began trading on the Nasdaq Global Select Market under the CBRS symbol on May 14, 2026.
1. IPO Offering and Proceeds
Cerebras Systems priced 34.5 million Class A shares at $185 per share, including a full 4.5 million share overallotment, generating approximately $6.38 billion in gross proceeds. The offering was led by Morgan Stanley, Citigroup, Barclays and UBS, with Mizuho and TD Cowen as bookrunners.
2. Nasdaq Trading Debut
Shares began trading on the Nasdaq Global Select Market on May 14, 2026 under the CBRS symbol, marking one of the largest tech IPOs of the year and providing immediate liquidity for new investors.
3. Technology Focus and Use of Funds
Proceeds are slated to accelerate development of the WSE-3 wafer-scale engine and expand global sales and support infrastructure. The WSE-3 processor is 58 times larger than leading GPUs while delivering inference up to 15 times faster on benchmarked open-source AI models.