Cerebras raises $5.5B, then stock pops $108%, in the first huge tech IPO of 2026
TechCrunch • • general
Key Points:
- Cerebras Systems raised $5.5 billion in its IPO, pricing shares at $185, significantly above its initial range, and increased the offering size to 30 million shares.
- The stock opened at $385, more than doubling its IPO price due to strong retail investor demand, and was trading above $330 midday.
- At the IPO price, Cerebras had a fully diluted valuation of $56.4 billion, with co-founder CEO Andrew Feldman’s stake valued at nearly $1.9 billion and co-founder CTO Sean Lie’s stake at about $1 billion.
- The company overcame previous IPO delays caused by concerns over a large investment from Abu Dhabi-based Group 42 and regulatory reviews by CFIUS.
- Cerebras’ renewed IPO success was driven by strong financial performance, including projected 2025 revenue of $510 million (up 76% year-over-year) and a swing to $237.8 million in net income, attracting significant investor interest.