The biggest initial public offering of 2026 – so far – went better than many expected. Cerebras Systems (CBRS), a maker of dinner plate-sized semiconductor chips capable of training and running artificial intelligence models and programs,

The Cerebras IPO is one of the biggest offerings of the year so far, with the AI company making its market debut on Thursday, May 14.

Cerebras is shaking up the design of semiconductors. It’s also taking a new approach to the touchy subject of post-IPO stock sales.

Artificial intelligence chipmaker Cerebras surged 90% in its trading debut, setting the bar for the biggest initial public stock offering of the year so far.

Cerebras raised its expected IPO price range on May 11 to $150 to $160 per share, up from an initial range of $115 to $125, after the offering drew demand for more than 20 times the available shares.

The IPO price is significantly higher than first advertised. When Cerebras officially filed its paperwork on May 4, it said it was looking to sell 28 million shares at between $115 and $125 per share. A week later, it boosted the offering to 30 million shares at a price range of $150 to $160.

The success of chipmaker Cerebras in the public markets bodes well for the much-anticipated IPOs of AI giants Anthropic, OpenAI, and SpaceX.

Cerebras Systems Inc. (“Cerebras”) today announced the pricing of its initial public offering of an aggregate of 30,000,000 shares of its Class A common stock, at a public offering price of $185.00 per share.

Founded in 2015, Cerebras develops AI infrastructure and high-performance processors. Its flagship technology, the Wafer-Scale Engine 3, or WSE-3, is designed as a wafer-scale AI processor with 4 trillion transistors and 900,000 AI-optimized cores.

The Sunnyvale, Calif.-based firm’s IPO is the largest so far this year and comes as AI-linked stocks push broader markets to record highs.