SUNNYVALE — Cerebras Systems announced an increase in its initial public offering price range to $150 to $160 per share on Tuesday, up from its previous range of $115 to $125. The chipmaker aims to generate up to $4.8 billion in proceeds when it begins trading on the Nasdaq under the ticker CBRS on May 14, 2026.
The company reported $510 million in revenue for 2025, marking a 76 percent increase year-over-year, according to Cerebras Systems. That financial growth is bolstered by a $20 billion computing deal with OpenAI, positioning the firm as a key competitor to Silicon Valley rivals.
Founded in 2015 by Andrew Feldman, Sean Lie, Gary Lauterbach, Michael James, and Jean-Philippe Fricker, Cerebras focuses on creating specialized processors for advanced artificial intelligence models. CEO Andrew Feldman has opted not to sell any shares during the offering, signaling his commitment to the long-term vision of the business.
Major financial institutions including Morgan Stanley, Citigroup, Barclays, and UBS are leading the underwriting process for the public listing. The enterprise enters the public market following the recent public offering of CoreWeave and the anticipated listing of Databricks.
While NVIDIA has historically dominated the sector, Cerebras is positioning its silicon chips as a viable alternative for heavy AI workloads. The firm did not disclose the total number of shares that will be offered to public investors in the upcoming filing.
