Cerebras raises IPO price range to $150-$160 per share

Cerebras Systems is raising its IPO terms scope to $150 to $160 per share, up from an archetypal set of $115 to $125, arsenic capitalist request for the AI chipmaker's shares continues to climb, according to Reuters, citing unnamed sources.

The Sunnyvale, California-based institution is besides expanding the fig of shares marketed to 30 cardinal from 28 million. Sources who declined to beryllium named fixed the sensitivity of the accusation said Cerebras is weighing a revised terms scope of $150 to $160 per stock — up from $115 to $125 — portion besides looking to summation the fig of marketed shares from 28 cardinal to 30 million. Should shares terms astatine the precocious end, full proceeds would scope astir $4.8 cardinal — compared with $3.5 cardinal nether the archetypal operation — though some figures could inactive displacement earlier the IPO's May 13 pricing date, according to CNBC.

Demand has been aggravated capable that orders person travel successful astatine much than 20 times the disposable stock supply, Reuters reported. Data from Dealogic shows the offering would fertile arsenic the apical IPO by size anyplace successful the satellite done this constituent successful 2026. Bloomberg News had antecedently reported that Cerebras planned to rise its IPO terms scope to $125 to $135 per share.

Cerebras makes wafer-scale AI chips — processors built utilizing an full silicon wafer alternatively than being chopped into smaller pieces — designed for AI grooming and inference workloads. Nvidia is its superior competitor, and Cerebras has positioned its hardware astir inference — the signifier astatine which trained models tract unrecorded idiosyncratic requests — astatine a infinitesimal erstwhile that workload is consuming a increasing stock of the industry's compute spending.

The underwriting syndicate is led by Morgan Stanley, Citigroup, Barclays, and UBS. Once listed, the banal volition transportation the ticker CBRS connected the Nasdaq Global Select Market.

The institution has bolstered its lawsuit basal and equilibrium expanse since abandoning a 2024 IPO effort amid nationalist information scrutiny implicit its ties to G42, a UAE-based tech firm. G42, a UAE-based exertion steadfast that generated much than 80 percent of Cerebras's gross during the archetypal fractional of 2024, drew scrutiny from national regulators; CFIUS yet reviewed the narration and signed disconnected connected it. Since then, Cerebras has secured OpenAI and Amazon Web Services arsenic customers. A multi-year declaration with OpenAI, announced successful December 2025, calls for OpenAI to acquisition 750 megawatts of Cerebras computing capacity, with the woody valued astatine implicit $20 billion. OpenAI besides provided Cerebras a $1 cardinal moving superior loan. In March 2026, AWS signed a binding word expanse to go the archetypal hyperscaler to deploy Cerebras systems successful its ain information centers.

Cerebras reported full-year 2025 gross of $510 million, according to its SEC filing, up from $290.3 cardinal successful the anterior year. The institution swung to nett income of $237.8 cardinal successful 2025 aft signaling a nett nonaccomplishment of $481.6 cardinal successful 2024.