Cerebras Plans IPO That Could Raise $3.5 Billion with Strong Investor Demand

Tue, 05 May 2026 12:54:00 +0200

Cerebras Systems, an AI chipmaker closely linked with OpenAI, is preparing for an initial public offering (IPO) expected to raise $3.5 billion. The company plans to sell 28 million shares priced between $115 and $125 each, giving it a market capitalization of up to $26.6 billion. This IPO could become the largest tech offering of 2026 so far. Cerebras develops the Wafer-Scale Engine 3, an AI-specific chip designed to outperform GPU-based chips in inference tasks while consuming less power. The IPO benefits a wide range of investors, including major venture capital firms like Benchmark, Fidelity, and Foundation Capital, as well as angel investors such as OpenAI founders Sam Altman and Greg Brockman, former OpenAI chief scientist Ilya Sutskever, and Quora CEO Adam D’Angelo. The company’s close ties with OpenAI include a $1 billion loan with warrants that could allow OpenAI to purchase over 33 million shares, making it a potentially significant shareholder in the future. Despite earlier d