Cerebras Systems Inc. (Ticker: CBRS US) is an American AI semiconductor and systems company. The company designs processors for AI training and inference, builds AI systems to power, cool and feed its processors data, and develops software that links its systems into supercomputers used on premise and through cloud-based offerings. Its third-generation Wafer-Scale Engine, or WSE-3, is described as the largest chip ever sold and is designed to accelerate large-scale AI workloads while reducing infrastructure complexity and power usage.

Cerebras plans to list on NASDAQ on May 14, 2026, following expected pricing on May 13, 2026. According to updated terms, the company upsized its IPO to 30.0 million shares from 28.0 million shares and raised the price range to $150.00 to $160.00 per share from $115.00 to $125.00 per share. The offering is expected to raise approximately $4.65 billion at the $155.00 midpoint. Estimated market capitalization is approximately $33 billion. Cerebras reported approximately $510 million of revenue and $237.8 million of net income for the 12 months ended Dec. 31, 2025. The company revived its IPO plans in April 2026 after withdrawing a prior IPO filing in October 2025. Morgan Stanley, Citigroup, Barclays, UBS Investment Bank, Mizuho Securities and TD Securities are acting as bookrunners.