American AI chip developer and data center operator Cerebras Systems Inc. has officially announced the parameters of its IPO. The company plans to raise up to $3.5 billion and is offering investors 28 million shares at a price of $115 to $125 per share.
American AI chip developer and data center operator Cerebras Systems Inc. has officially announced the parameters of its IPO. The company plans to raise up to $3.5 billion and is offering investors 28 million shares at a price of $115 to $125 per share.
The company’s plans became known from documents filed with the US Securities and Exchange Commission (SEC), Bloomberg reports. According to the publication’s sources, demand for shares already significantly exceeds supply: underwriting banks have received signals of interest in orders worth more than $10 billion.
Cerebras positions itself as a major technology rival to Nvidia Corp. The company is known for making super-large chips designed to handle massive amounts of data. Cerebras CEO Andrew Feldman says its hardware can run AI models faster than Nvidia’s solutions.
Cerebras' listing is expected to be one of the biggest events of the year, second only to SpaceX’s potential record-breaking $75 billion IPO. The company’s success is underpinned by strategic partnerships with technology giants.
In early 2026, Amazon.com Inc. announced plans to use Cerebras chips alongside its own Trainium processors. Even more significant is its partnership with OpenAI, which in January signed a $20 billion deal to provide 750 megawatts of computing power to ChatGPT, a developer. OpenAI also provided the company with a $1 billion working capital loan.
