Cerebras Systems

Last updated: May 15, 2026
Ticker
CBRS
Exchange
NYSE
IPO Date
Pending
Price Range
$150.00 - $160.00
Deal Size
$5,550 million
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Company Snapshot

Cerebras Systems is a technology company focused on developing purpose-built silicon for artificial intelligence (AI) workloads. The company has created the largest commercial chip in history, utilizing wafer-scale integration to enhance communication speed and efficiency for AI applications. Their innovative architecture aims to address the unique challenges posed by AI, allowing for faster and more effective processing of complex tasks.

Founded
2015

Key Financials

Metric20252024
Revenue$510M$290M
YoY Growth+75.9%-
Adjusted Net Income$238M-$482M
Margin %46.7%-166.2%
Gross Margin
39%

Balance Sheet

Cash & Equivalents
$702M

Implied Valuation at Midpoint

Market Cap
$33.0B
P/S Ratio
64.7x
P/E Ratio
138.7x

Based on price range midpoint and most recent fiscal year data.

S-1 Highlights

Market & Competition

Cerebras Systems operates in the AI computing market, which is rapidly evolving with increasing demand for high-speed inference and training solutions. The company competes with NVIDIA and other emerging technology providers.

Use of Proceeds

Proceeds from the IPO will be used to support the company's growth initiatives and further develop their AI infrastructure solutions.

Key Risk Factors

  • Cerebras Systems faces significant competition from existing players like NVIDIA, which may impact their market share and pricing strategy.
  • The company's ability to attract and retain customers may be hindered if their products do not meet the specific requirements of prospective clients.

Deal Structure

Primary Shares
28,000,000 shares
Shares Outstanding
212,965,381 shares
Post-IPO Float
14.1%
Lock-up
No Lock-up Agreement
Lead Underwriters
Morgan Stanley, Citigroup, Barclays, UBS Investment Bank, Mizuho, TD Cowen, Needham & Company, Craig-Hallum, Wedbush Securities, Rosenblatt, Academy Securities, Credit Agricole CIB, MUFG, First Citizens Capital Securities

Reported Broker Availability

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