Company intelligence
As of May 14, 2026, Cerebras had a market capitalization of $56.4B (fully diluted, at the $185 IPO price) (TechCrunch). Its most recent revenue figure is $880-890M (2026 guidance), reported by Motley Fool, May 2026.
Cerebras Systems builds wafer-scale AI chips and inference clouds — public since May 14, 2026 as CBRS which closed its debut day +68% at ~$95B (CNBC; ~$70B on outstanding shares), a $20B+/750MW OpenAI compute deal, and $24.6B in remaining performance obligations.
Cerebras Systems is an AI infrastructure company that designs and manufactures an AI compute platform of proprietary systems and software built around its Wafer-Scale Engine chip, according to its IPO prospectus.[1] Its current system, the CS-4, delivers up to 30x faster inference than GPUs, according to the company.[2] Cerebras was incorporated in Delaware in April 2016 and has its principal executive offices in Sunnyvale, California.[1] Cerebras's customers include OpenAI, Amazon Web Services, Meta and IBM, according to its prospectus as reported by Yahoo Finance (May 2026).[3]
Cerebras reported total revenue of $510.0 million for 2025, up from $290.3 million in 2024, according to its SEC prospectus.[1] In the second quarter of 2026, Cerebras reported GAAP total revenue of $180.1 million, up 74% year over year, and core total revenue of $209.9 million.[4] Its GAAP cloud and other services revenue was $126.0 million in the second quarter of 2026, up 281% year over year, the company said.[4] Cerebras reported $25.4 billion in remaining performance obligations as of June 30, 2026.[4] A multi-year agreement with OpenAI signed in January 2026 covers 750 megawatts of inference capacity, expandable to 2 gigawatts by 2030, and is described as worth more than $20 billion at full expansion, reported by Yahoo Finance.[3]
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Cerebras is a semiconductors company, based in Sunnyvale, California, USA, founded 2016.
| Date | Event | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| May 14, 2026 | IPO | $6.4B | $56.4B | Alpha Wave GlobalMotley Fool · unverifiedFoundation CapitalMotley Fool · unverifiedTiger Global ManagementMotley Fool · unverifiedFidelity InvestmentsMotley Fool · unverifiedBenchmarkMotley Fool · unverifiedAltimeter CapitalMotley Fool · unverifiedAMD VenturesMotley Fool · unverifiedCoatue ManagementMotley Fool · unverifiedG42 | SEC EDGAR (Cerebras 8-K) |
Cerebras filed for an IPO in September 2024 but withdrew that S-1 registration on October 3, 2025, telling the SEC it did not intend to conduct the offering at that time.[5] Cerebras sold about $1.1 billion of Series G preferred stock at $36.2324 per share in closings through October 2025, according to its prospectus.[1] It then sold about $1.0 billion of Series H preferred stock at $89.0156 per share in closings through February 2026.[1] Cerebras priced its Nasdaq IPO at $185 per share on May 13, 2026, above a raised range of $150 to $160, and the shares closed their first trading day at $311, a 68% gain, reported by Yahoo Finance.[3] On May 15, 2026, Cerebras completed its IPO of 34,500,000 Class A shares at $185.00, including the underwriters' full over-allotment option, for gross proceeds of $6.4 billion.[6] Cerebras also closed a revolving credit facility of up to $850 million in 2026; that is debt, not equity.[4]
| As of | Value | Method | Source |
|---|---|---|---|
| May 14, 2026 | $66B | Reported | TechCrunch |
| May 14, 2026 | $56.4B (fully diluted, at the $185 IPO price) | Reported | TechCrunch |
| Feb 2026 | $23B | Reported | Motley Fool |
Cerebras CEO Andrew Feldman told TechCrunch Disrupt that AI leaders' public doomsday warnings are overshadowing the technology's potential benefits, arguing some executives 'shouldn't be allowed to talk in public.'
This year's IPO window has rewarded Cerebras's AI-linked debut with a 68% day-one pop while leaving a smaller infrastructure listing like Accelevation to price below range and keep sliding.
Cerebras Systems shares jumped 15.1% after Wedbush said new evidence of its chips powering an ultrafast OpenAI model tier shows real progression in the two companies' existing $20 billion compute agreement.
US listings are running at their highest count since 2021, but SpaceX and Cerebras alone likely raised more than the other 236 deals combined -- a count recovery without a depth recovery.
Cerebras opened at $350 against a $185 price in May and is back at that offer price in September, which makes it the only completed public-market experiment in how AI compute businesses get valued after the narrative premium wears off.
Cerebras opened at $350 against a $185 IPO price and has since traded back near its offer price, while SpaceX climbed roughly 19% in a month on an Oppenheimer price-target raise -- proof first-day pops and durable value differ.
Four months after the biggest chip IPO of 2026, Cerebras has swung from a 68% post-listing pop to earnings-driven volatility -- a reminder that day-one enthusiasm and quarterly execution are different tests entirely.
Adit Singh, the Foundation Capital partner who co-led Cerebras's first funding round a decade ago, has joined Mayfield as an infrastructure partner focused on semiconductors, hardware, cybersecurity and physical AI.
Up to 84 million Cerebras Class B shares become eligible to convert and sell by the end of August, about 2.4 times the 34.5 million shares sold in its IPO, with another 87 million unlocking in September and October.
A hot IPO window doesn't guarantee a hot stock afterward -- Cerebras is down sharply on its second earnings report even after raising guidance, while Reddit and SanDisk show post-listing performance hinges on execution, not debut pricing.
Cerebras stock fell about 14% after its second earnings report as a public company even as it raised full-year guidance, with GAAP revenue missing estimates while core revenue grew 103% year over year.
Semiconductor startups raised around $10.7 billion in seed-through-pre-IPO rounds in 2026 as of June 10, according to Crunchbase News, led by Cerebras' $1 billion pre-IPO round and $500 million raises by MatX, Ayar Labs and Etched; Etched raised again in July at a $10.3 billion valuation.
Cerebras Systems trades on the Nasdaq Global Select Market under the ticker CBRS; its IPO was priced at $185.00 per share in May 2026.[1]
Cerebras priced its IPO on May 13, 2026, began trading on May 14 and completed the offering on May 15, 2026, raising $6.4 billion in gross proceeds.[3],[6] An earlier IPO attempt, filed in September 2024, was withdrawn on October 3, 2025.[5]
Cerebras reported 2025 revenue of $510.0 million, and GAAP revenue of $180.1 million for the second quarter of 2026, according to its SEC filings.[1],[4]
Cerebras is a public company; before its IPO its largest outside holders included Fidelity (11.0%), Benchmark (9.5%), Foundation Capital (8.3%), Eclipse (7.3%) and Alpha Wave (6.5%), according to its prospectus.[1]
Cerebras raised about $1.1 billion in a Series G through October 2025 and about $1.0 billion in a Series H through February 2026, before raising $6.4 billion in its May 2026 IPO.[1],[6]
Andrew Feldman, a co-founder, is the CEO of Cerebras (Aug 2026).[4]
Cerebras's market capitalization was $56.4B (fully diluted, at the $185 IPO price) as of May 14, 2026, according to TechCrunch.
Cerebras's most recent revenue figure is $880-890M (2026 guidance), reported by Motley Fool, May 2026.
Cerebras was founded in 2016 and is headquartered in Sunnyvale, California, USA, according to Wikidata and SEC EDGAR (Cerebras 424B4).
Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.
