Cerebras files for $3.5B IPO, targets $26.6B market cap
cerebras systems filed for an ipo on monday, offering 28 million shares at $115 to $125 each. this raises $3.5 billion at a $26.6 billion market cap, marking 2026's largest tech listing so far. banks report $10 billion in orders, suggesting pricing will increase.
Cerebras Systems filed to sell 28 million shares between $115 and $125, aiming to raise $3.5 billion at a $26.6 billion market cap. This February IPO represents a significant increase from the company's $23 billion valuation in its February Series H round. The Wafer-Scale Engine 3 manufacturer counts OpenAI as a primary partner, backed by a $10 billion compute agreement and a $1 billion convertible loan. Reports indicate banks have received $10 billion in orders for the offering, suggesting the final price will exceed the current range.