Cerebras Prices IPO At $185 Per Share, Targeting $5.5 Billion Raise

Cerebras Systems priced its IPO at $185 per share on Wednesday evening, targeting a $5.5 billion raise and valuing the AI chipmaker at $40 billion, according to the Financial Times.

“Cerebras, OpenAI, SpaceX: The IPO pipeline that could drain crypto Cerebras Systems’ $5”

@coindesk

The IPO is set to debut on Thursday at a roughly $40 billion valuation, up from $8.1 billion just eight months ago, as @coindesk reported.

@coindesk

Cerebras said its listing on Wall Street will start Thursday at $185 per share, raising about $5.5 billion, and the Sunnyvale, California-based company plans to issue 30 million shares with an over-allotment option for an additional 4.5 million shares, according to Gulf News.

The shift in investor attention is reflected in market moves cited by Cryptonews.net, where Intel (INTC) is up 218% year to date, the Philadelphia Semiconductor Index is up 66%, and the benchmark S&P 500 has gained 8%.

Against that backdrop, Cryptonews.net said Bitcoin has lost 9% and is languishing below $80,000, with Google searches for "buy bitcoin" at a 12-month low, and the CoinDesk 20 Index (CD20) has dropped 19%.

Cryptonews.net framed Cerebras as "an early test of Wall Street's appetite for new AI listings ahead of the anticipated debuts of OpenAI and SpaceX," linking the IPO pipeline to potential pressure on digital assets.

@coindesk said crypto markets are struggling, with bitcoin down 12% this year and retail interest fading as capital rotates into semiconductor and AI-related stocks.

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Cryptonews.net added that the bearish news for crypto prices could continue for many more months as SpaceX and OpenAI IPOs are waiting in the wings as potentially the largest listings in stock market history.

In the same account, Cryptonews.net described how attention shifting toward AI-related equities has become a significant headwind for digital assets as "Each of those acts as a gravitational pull on risk capital."

Separately, @coindesk reported that Bitcoin held below $80,000 after Wednesday's stronger-than-expected U.S. producer price inflation data sparked a risk-off move and wiped out leveraged bullish bets.

Cerebras is hitting the market during what CNBC called a "silicon renaissance," with Intel, Advanced Micro Devices and memory maker Micron each up more than 80% in the past month, and investors spreading chip bets from Nvidia to a wider universe of semiconductor companies.

CNBC said the IPO reeled in $5.55 billion for Cerebras, which sold 30 million shares, and underwriters have the option to purchase an additional 4.5 million shares.

Morningstar described Cerebras as 2026’s hottest IPO yet and said it was scheduled to price its IPO late Wednesday and for its stock trading to begin Thursday.

Morningstar also said investors were awaiting potentially three huge IPOs this year: SpaceX, OpenAI, and Anthropic, and it cited published reports that SpaceX and OpenAI are expected to raise a combined total of $135 billion in their upcoming listings.

In that same context, Morningstar quoted analyst Brian Colello saying, "It’s remarkable that the business was valued at $8 billion in October … although large deals with OpenAI and Amazon Web Services certainly help the cause."