Cerebras Systems went public on May 13, 2026 at $185 per share. The stock surged 68% on its first day, reaching around $311, before dropping more than 50% by August 2026, sometimes falling below the IPO price. The company is now betting on its Wafer-Scale Engine 3 chip, which features 4 trillion transistors and delivers 125 petaflops of AI computing power, to regain investor appeal. Cerebras raised approximately $5.55 billion through its IPO and forecasts revenues of $880 million to $890 million in 2026, but must grow substantially to justify its initial valuation of $56 billion.
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