Cerebras Systems launched the roadshow for its proposed IPO, offering 28 million Class A shares at an expected price range of $115 to $125 per share. The Sunnyvale-based AI chip company applied to list on Nasdaq under the ticker CBRS.
At the midpoint, the offering would raise about $3.36 billion before fees; at the top of the range, the base deal would raise $3.5 billion. Underwriters also hold a 30-day option to buy up to 4.2 million additional shares, potentially lifting gross proceeds above $4 billion. Reuters reported the IPO would target a valuation of about $26.6 billion.
Cerebras positions its wafer-scale AI processors as an alternative architecture for large-scale AI training and inference workloads. The IPO comes as investor attention remains focused on AI infrastructure, accelerator supply, inference capacity, and alternatives to GPU-centric system design.
- Company: Cerebras Systems
- Headquarters: Sunnyvale, California
- Proposed ticker: CBRS
- Exchange: Nasdaq Global Select Market
- Shares offered: 28,000,000 Class A shares
- Price range: $115 to $125 per share
- Underwriter option: up to 4,200,000 additional shares
- Lead bookrunners: Morgan Stanley, Citigroup, Barclays, UBS Investment Bank
- Additional bookrunners: Mizuho, TD Cowen
