Shares of the American firm producing chips for artificial intelligence, Cerebras Systems, doubled in price on their first day of trading on the NASDAQ exchange following their initial public offering. The company’s IPO became the largest offering in the U.S. this year.
Cerebras Systems placed shares at $185 per security during the IPO. After trading commenced, quotes surged by 108%—reaching $385. As of 22:00 Moscow time, the securities were up 72.65% and traded at a price of $319.41 per share.
The company’s CEO, Andrew Feldman, told Bloomberg Television that demand for Cerebras Systems shares exceeded supply by more than 25 times. According to the publication, the firm attempted to manage the demand. It asked institutional investors placing orders for the IPO to specify the number of shares and the maximum price they were willing to pay.
Cerebras System raised $5.55 billion. The placement turned out to be the biggest listing in the U.S. in 2026—since the December 2025 debut of medical device manufacturer Medline Industries, which secured $7.2 billion, Bloomberg writes. This is also the largest IPO in the history of U.S. semiconductor producers. Previously, in 2023, Arm Holdings raised $5.23 billion.
The placement underwriters were Morgan Stanley, Citigroup, Barclays, and UBS Investment Bank.
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