Cerebras Systems (CRBS Proposed) pulled back the curtain on its IPO playbook early today with the launch of its $3.36 billion IPO to price next week. The Sunnyvale, California-based Cerebras, an AI-focused semiconductor company, is offering 28 million shares at a price range of $115.00 to $125.00 to raise $3.36 billion, if priced at the $120.00 mid-point of its range. This is a NASDAQ listing.
Morgan Stanley, Citigroup, Barclays, UBS Securities, Mizuho and TD Cowen are the joint book-runners.
Bankers expect to price the Cerebras IPO next week – on Wednesday night, May 13, 2026 – to trade Thursday, May 14 – on the NASDAQ.
At pricing, Cerebras would have a market cap of about $25.56 billion.
The Cerebras IPO was part of a flurry of IPO filings today that set terms for deals likely to price next week.
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Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.