Cerebras Systems Debuts on Nasdaq with Record-Breaking IPO

Cerebras Systems, a U.S. AI chip company, has officially listed on Nasdaq, marking the largest global IPO since 2026, raising approximately $5.55 billion. According to ChainCatcher, the company's stock surged by 108% during intraday trading, closing with a market capitalization of $67 billion on its first day. Cerebras is known for its wafer-scale AI chip architecture, which is seen as a significant competitor to Nvidia's GPU dominance. The company has secured computing power orders from several AI enterprises, including OpenAI. Notably, 1789 Capital, involving Donald Trump Jr., is among its investors. This firm has participated in two rounds of Cerebras' financing since 2025 and has continued to increase its investment in subsequent rounds. Before the IPO, Cerebras completed multiple financing rounds, with its valuation peaking at $23 billion. The company attracted investments from Benchmark, Fidelity, AMD, and other institutional and industry capital, creating a diverse shareholder base spanning Silicon Valley and Wall Street. Analysts highlight that this IPO is a significant milestone in the AI chip sector and amplifies the trend of capital concentration in AI infrastructure. The involvement of investment firms linked to political families has also drawn considerable market and public attention.