Cerebras IPO Prices at $185/Share, Begins Trading on Nasdaq at $56.4B Valuation — 2026's Largest IPO

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AI chipmaker Cerebras Systems priced its IPO at $185/share (above the raised $150-$160 range), selling 30 million Class A shares for $5.55 billion on the Nasdaq under ticker CBRS. The order book closed roughly 20x oversubscribed, valuing the company at $56.4 billion fully diluted. Cerebras designs wafer-scale AI inference chips with 4+ trillion transistors per chip.