AI chip provider Cerebras seeks to raise $3.5B in IPO at $26.6B valuation
Cerebras Systems Inc. plans to raise $3.5 billion in its initial public offering (IPO) at a valuation of $26.6 billion. The AI chipmaker's sales jumped 76% in 2025 to $290.3 million, and it turned a profit of $87.9 million.
Cerebras Systems Inc. disclosed the financial terms of its upcoming public offering, seeking to raise $3.5 billion by selling 28 million shares for $115 to $125 apiece. The company's sales jumped 76% in 2025 to $290.3 million, and it turned a profit of $87.9 million. Cerebras' valuation could reach $26.6 billion, a $3.6 billion increase from February. The company sells a wafer-size AI chip called the WSE-3, which features 900,000 cores and a 44-gigabyte pool of SRAM. Cerebras has inked a broad chip supply deal with OpenAI Group PBC, worth over $20 billion, and teamed up with Amazon Web Services Inc. to make the WSE-3 chip available in the cloud giant's platform. The public offering is expected to give Cerebras the funds to capitalize on its growing demand for AI computing capacity.
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