TechFlow News, May 12: According to multiple reports from CNBC, The Information, and others, AI chipmaker Cerebras officially debuted on the Nasdaq this week. Its IPO price range has been significantly raised—from an initial $115–$125 per share (implying a $26.6 billion valuation) to a new fully diluted market capitalization of up to $48.8 billion. Market forecasts suggest a 91% probability that its market cap will exceed $50 billion on IPO day.
A deep strategic partnership with OpenAI is the central highlight of this IPO. Cerebras previously signed a compute-supply agreement with OpenAI valued at over $20 billion, committing to deliver 750 megawatts of AI compute capacity through 2028. OpenAI also holds warrants to purchase Cerebras shares; according to The Information’s calculations, OpenAI’s potential gains could ultimately surpass $5 billion at the current valuation level.
