Cerebras's stock set for blast off, as early indications point to a near doubling

MW Cerebras's stock set for blast off, as early indications point to a near doubling

By Britney Nguyen

The chip maker's shares were indicated to open around $353, or 91% above the $185 IPO price

Cerebras will start trading on the Nasdaq on Thursday.

Shares of Cerebras Systems were headed for a rocket ride in their debut, as demand for the inference chip maker's stock exceeded already sky-high expectations.

Early indications showed that the stock $(CBRS)$ was set to open on the Nasdaq around $353, or 91% above where the initial public offering priced, according to FactSet data. At the indicated price, Cerebras would have a market capitalization of $76 billion.

"The pricing action at least indicates investors are very excited about its prospects, and the potential for Cerebras to become a key player in chip development," Matt Kennedy, senior strategist at Renaissance Capital, told MarketWatch in emailed comments.

Cerebras is directly going after Nvidia (NVDA), Kennedy said, "with a product that excels at inference, an emerging frontier in AI competitive superiority." And though it's still "a long way off," some investors are betting that it could potentially take on the AI chip giant in the future, he added.

The IPO priced at $185 late Wednesday, topping its previously announced range of $150 to $160, which had already been raised from $115 to $125. Cerebras had also raised its offering to 30 million shares from 28 million.

The company's chips are built to support inference, or the process of running artificial intelligence models after training, which is increasingly a major focus for companies deploying applications.

Cerebras makes macro chips, which are 58 times larger than Nvidia's B200 chips. CEO Andrew Feldman boasted in an interview on CNBC that in the 70 years of compute-industry history, Cerebras was the only company that succeeded in building a big chip.

"Since we did it, others have tried and also failed," Feldman said on CNBC. "So we're really confident that the technical moat is wide and deep."

Investors have been hot for AI infrastructure plays such as chips and networking as hyperscalers and other AI companies plan to pour hundreds of billions of dollars into building out AI data-centers.

-Britney Nguyen

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

May 14, 2026 10:43 ET (14:43 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.