Nvidia's competitor Cerebras rushes to Nasdaq, plans to raise approximately $3.5 billion, with a pricing range of $115-$125 per share

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BlockBeats News, May 4 — Artificial intelligence chip manufacturer Cerebras Systems has officially launched its IPO process, planning to raise up to $3.5 billion through an initial public offering. According to documents the company filed with the U.S. Securities and Exchange Commission (SEC), it will issue 28 million shares this time, with a price range of $115 to $125 per share. The stock code is “CBRS,” and it plans to list on NASDAQ.

This is Cerebras’ second attempt after withdrawing its listing application last October. Judging from its financial data, the company has turned profitable. Revenue for 2025 reached $510 million, up approximately 76% year over year, and earnings per share were $1.38 (compared with a loss of $9.90 in the prior year).

At present, the market is focused on whether this IPO can validate the company’s target valuation of about $40 billion. Underwriters include Morgan Stanley, Citigroup, Barclays, and UBS.

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