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AI Chipmaker Cerebras Prices IPO at $160 After Demand Runs 20 Times Oversubscribed

Cerebras Systems priced its initial public offering on May 13 at the top of a raised $150 to $160 range after order books closed roughly 20 times oversubscribed. The wafer-scale AI chip maker raised up to $4.8 billion and reached a fully diluted valuation near $48.8 billion. The IPO is the largest US tech listing of 2026 so far and trades on Nasdaq under the ticker CBRS.