Cerebras Targets $115–$125 IPO to Raise $4 Billion at $40 Billion Valuation
Rival AI chipmaker Cerebras Systems launches its IPO roadshow with shares at $115–$125, aiming to raise up to $4 billion at a $40 billion valuation. The Sunnyvale firm reported $510 million revenue in fiscal 2025, up from $290.3 million the prior year, and swung to a $1.38 EPS profit from a $9.90 loss.
1. IPO Roadshow and Pricing
The company plans to launch its roadshow with an IPO priced between $115 and $125 per share, aiming to raise up to $4 billion at a roughly $40 billion valuation. It will list on Nasdaq under the ticker CBRS, with Morgan Stanley, Citigroup, Barclays and UBS as lead underwriters.
2. Financial Turnaround
For the year ended December 31, the company reported revenue of $510 million, up from $290.3 million a year earlier, and recorded a profit of $1.38 per share, reversing a $9.90 per share loss from the prior year.
3. Competitive Position
Specialized in wafer-scale engine chips designed to accelerate AI model training and inference, the company directly competes with Nvidia in the advanced AI hardware market.