Cerebras IPO Date, Price, S-1, and Final Terms
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The Cerebras IPO was Thursday, May 14th, 2026. The final Cerebras IPO price was $185 per share, and the stock closed on the first day of trading at $311.07, for a 68% one-day gain.
See below for a PDF copy of the S-1 filing.
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Table of Contents
Notable Cerebras News
05/14/2025: Cerebras IPO Closes up $68% on first day of trading
05/13/2026: Cerebras IPO Prices at $185
05/10/2026: Cerebras to raise range to $150-$160
05/05/2026: Cerebras Requires Limit Orders From IPO Buyers
Older news…
About Cerebras
Cerebras Systems is a Sunnyvale, California-based artificial intelligence (AI) company that builds hardware platforms designed to train massive AI models. Its supercomputing platform is available in the cloud or on-premises and enables users to:
Train and fine-tune production AI models quickly and easily. Use your data and own your model. Train in the cloud or on-premises, pain-free.
Nvidia, Groq, and CoreWeave get a lot of attention for AI computer processing. Think of Cerebras as a startup competitor that makes larger, more integrated processing chips. It also builds the hardware and software stack for an integrated AI computing platform.
The Wafer Scale Engine (WSE) has 850,000 cores and 2.6 trillion transistors and powers its CS-2 AI supercomputer box. WSE is the largest computer chip ever deployed.
Cerebras clusters 64 CS-2 systems to create the largest AI supercomputer, the Condor Galaxy. It plans for nine Condor Galaxy deployments, enabling the Cerebras Cloud service.
The company attracts mature companies and scientific research labs that need extraordinary computing power to advance their AI training models. It also boasts several high-profile AI startups as customers who can scale quickly on the platform.
Recent Podcast Episode (April 25th, 2026)
IPO Terms
The Cerebras IPO filing arrived on April 17th after the market close. Below is a list of the Cerebras IPO final terms.
- IPO Date: May 14th, 2026
- Retail Access: , SoFi
- ETRADE: Investors received about 10% of shares reqeusted
- Fidelity: Extreme allocation scarcity
- SoFi: Extreme allocation scarcity
- Cerebras Ticker Symbol: “CBRS”
- Stock Exchange: Nasdaq
- Common Stock Offered: 30,000,000
- Final IPO Price: $185
- Raise: $5.5 billion
- Estimated IPO Valuation: $40.6 billion
- IPO Pricing Date: May 13th, 2026
- Lead Underwriters: Morgan Stanley, Citigroup
- Opening Trade: $350 per share
- First Day Close: $311.07, up 68%
S-1 Filing
This Cerebras S-1 filing was released to the public on Friday, April 17th, 2026.
Find the latest version of the filing on the SEC website.
Pre-IPO Ownership
Cerebras is a venture-backed private company. The co-founders, venture capital firms, and employees are the company’s primary owners.
Prestigious venture capital investors include Fidelity, Atreides Management, Tiger Global, Valor Equity Partners, 1789 Capital, Abu Dhabi Growth Fund, Alpha Wave Ventures, Altimeter Capital, Benchmark Capital, Coatue, Eclipse Ventures, Foundation Capital, Moore Strategic Ventures, Open Field Capital, AMD, and VY Capital.
Pre-IPO Funding Rounds
| Round | Date | Est. Valuation | Raise Amount | Price |
|---|---|---|---|---|
| Series H | 02/04/26 | $23.0B | $1.00B | NA |
| Series G | 09/30/25 | $8.1B | $1.10B | $56.50 |
| Series F-1 | 06/06/24 | $2.87B | $420.00M | $14.66 |
| Series F | 11/09/21 | $4.25B | $250.00M | $27.74 |
| Series E | 11/29/19 | $2.42B | $276.00M | $18.32 |
| Series D | 11/26/18 | $1.70B | $80.00M | $16.15 |
| Series C | 07/23/17 | $860.00M | $65.00M | $8.95 |
| Series B | 01/25/17 | $240.00M | $25.00M | $2.75 |
| Series A | 05/04/16 | $62.50M | $27.00M | $0.85 |
| Source: Caplight |
Pre-IPO Cerebras Valuation
The last confirmed private Cerebras valuation was $23 billion based on the Series H funding round that closed in February 2026.
The $1 billion fundraise closed quickly, presumably inspired by the Groq Nvidia deal.
The IPO reached an estimated $40 billion market cap.
Cerebras IPO Leadup
The Cerebras IPO date was Thursday, May 14th, 2026. Pricing was announced the evening before.
The Groq and Nvidia deal inspired Cerebras to raise more private funds at a higher valuation headed into the IPO.
Cerebras released its S-1 filing on April 17th, 2026, and amended terms on May 4th.
The company released its original S-1 to the public on September 30th, 2024.
We were expecting a late-October IPO until an October 8th Reuters report indicated the IPO is likely to be postponed due to a Committee on Foreign Investment in the United States (CFIUS) review.
The CFIUS review stems from the S-1 filing, which disclosed that UAE-based G42, which is both a Cerebras investor and customer, accounted for 83% of Cerebras’s 2023 revenue and 97% of hardware sold thus far in 2024.
Cerebras has received clearance from the CFIUS review, making it possible to move forward.
But it chose to raise private funds in early 2025. It closed the funding round on September 30th and subsequently withdrew its IPO filing.
Cerebras initially hired Citigroup to lead its IPO, but changed it to Morgan Stanley, who took the primary role.
Private AI fundraising is booming as chatbot companies such as Anthropic, Sam Altman’s OpenAI, and a competitor led by former DeepMind founders, Inflection AI, have all raised significant funds.
CEO Andrew Feldman’s previous company, SeaMicro, was acquired by AMD in 2012.
How to Invest in Cerebras Stock
Cerebras stock is now publicly traded. Investors can purchase shares of CBRS stock at any online broker, including those that offer IPO access to customers:
Conclusion
Acquiring ownership in Cerebras was challenging for most retail investors, especially non-accredited ones.
Cerebras was unique in that pre-IPO shares were available to accredited investors leading up to the IPO. Especially, during the period between late-March 2025 and October 2025, when the valuation remained below $10 billion, and before Nvidia’s acquisition of Groq.
Investors with conviction in the company may have found ways to profit from early access headed into the IPO, though some shares may remain locked up until the 180-day mark after the IPO.
Retail investors often become interested in buying startups riding extraordinary macroeconomic and technology trends (AI, supercomputing chips, LLMs) before they go public.
Retail investors had very limited access to IPO shares in Cerebras. Notably, ETRADE had the best access since Morgan Stanley underwrote the deal.
Congratulations if you received Cerebras IPO shares. But don’t be discouraged if you missed out, plenty more innovative companies are in the IPO pipeline.
Cerebras News Archive
05/04/2026: Cerebras IPO Terms Set
04/17/2026: Cerebras Files for IPO Again
04/16/2026: OpenAI to Spend $20+ Billion on Cerebras Chips
03/13/2026: Cerebras and Amazon strike deal
03/06/2026: Cerebras Taps Morgan Stanley for IPO Return
02/23/2026: Cerebras Files Confidentially For a U.S. IPO
02/04/2026: Cerebras Raises $1 Billion Series H
01/14/2025: OpenAI partners with Cerebras
01/13/2025: Cerebras in Talks to Raise $1B a $22B Valuation
12/19/2025: Cerebras set to file for US IPO after delay
10/06/2025: Cerebras CEO, Andrew Feldman on 20VC
10/03/2025: Cerebras Withdraws IPO
09/30/2025: Still-private Cerebras Systems raises $1.1B
09/30/2025: Cerebras Raises $1.1B Series G at $8.1 Billion Valuation
08/12/2025: Fidelity in Talks to Lead Cerebras $1 Billion Round
07/29/2025: Cerebras Seeks $1 Billion Private Funds, Delays IPO
07/08/2025: Cerebras Partners with Hugging Face, DataRobot
05/15/2025: Cerebras ‘aspiration’ is to hold IPO in 2025
04/04/2025: Tariff Turmoil Freezes the U.S. IPO Market
03/31/2025: Cerebras announces CFIUS clearance
03/25/2025: Cerebras IPO further delayed
02/11/2025: Cerebras Powers Perplexity Sonar Super Fast
02/07/2025: Cerebras brings instant inference to Mistral Le Chat
01/31/2025: Cerebras hosts DeepSeek R1 outpacing Nvidia by 57x
10/18/2024: Cerebras CEO hopes to seize AI chip market
10/11/2024: Cerebras IPO has ‘too much hair’
10/08/2024: Cerebras likely to postpone IPO due to CFIUS review
09/30/2024: Cerebras S-1 Filing is LIVE
10/02/2024: Beware hallucinations in AI chipmaker IPO
10/01/2024: Inside AI chip startup Cerebras’s S-1 filing
09/25/2024: Cerebras Targets Raising Up to $1 Billion in IPO
08/27/2024: Introducing Cerebras Inference: AI at Instant Speed
08/01/2024: Cerebras Is Said to Plan IPO as Soon as October
08/01/2024: Cerebras confidentially files for US IPO
06/25/2024: Cerebras Authorizes Discounted Series F-1
06/20/2024: Cerebras files for IPO confidentially
04/02/2024: Cerebras Systems Picks Citigroup for IPO
03/13/2024: Cerebras Unveils World’s Fastest AI Chip
01/25/2024: Cerebras Systems Weighs IPO as Soon as 2024
10/30/2023: Cerebras CEO Sounds Off on Nvidia’s Roadmap
08/29/2023: Meet “Jais”, The World’s Most Advanced Arabic LM
07/20/2023: Cerebras and G42 Unveil World’s Largest Supercomputer for AI
11/10/2021: Cerebras Systems Raises $250M in Series F
12/19/2016: A stealthy startup called Cerebras raised $25 million
Frequently Asked Questions (FAQs)
Craig Stephens founded Access IPOs in 2016 to help ordinary investors explore IPO and pre-IPO opportunities. He also manages the Access Club, a membership community for IPO and startup investors. Craig studied Finance at Michigan State University and lives in Northern Virginia. Learn more about Craig.
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