Cerebras Raises $5.6 Billion in Record-Breaking IPO

Cerebras, a Sunnyvale-based AI chipmaker and supercomputer developer, has raised an estimated $5.6 billion in its U.S. initial public offering (IPO), pricing shares at $185 apiece.

The company's stock will list on the Nasdaq Global Select Market under the symbol 'CBRS' on Thursday.

Cerebras is one of the few pure-play AI chipmakers challenging Nvidia in the fast-growing AI infrastructure market, and its IPO has been closely watched due to investor appetite for next-gen AI hardware companies.