Cerebras, Nvidia Challenger, Set for High Opening on US IPO Tonight Amidst 70% Premium

On May 14, AI chip manufacturer Cerebras, known as the ‘Nvidia Challenger’, will go public on the US stock market under the ticker symbol CBRS. The IPO is priced at $185 per share, with a total of 30 million shares sold, raising approximately $5.55 billion, making it one of the largest IPOs in the AI infrastructure sector this year. In January, OpenAI signed a collaboration agreement with Cerebras worth over $10 billion, with OpenAI holding warrants to purchase over 33 million shares. Currently, on the Hyperliquid chain’s Perp DEX Trade.xyz, Cerebras’ Pre-IPO price is reported at $288 per share, having once surpassed $320, representing a premium of over 70% compared to the IPO price. The 24-hour trading volume is nearly $20 million, with the open interest value skyrocketing to $28.3 million. Notably, the funding rate for Cerebras’ on-chain Pre-IPO contracts has shifted from negative to positive, indicating that investors are increasing their long positions in anticipation of a strong opening tonight. Additionally, Cerebras’ chips feature a design that occupies the entire surface of a silicon wafer, whereas traditional processes typically etch dozens of chips on the same wafer. Cerebras’ single wafer-level design integrates 40 trillion transistors and approximately 900,000 AI-optimized cores, with on-chip memory reaching up to 44 GB and memory bandwidth of 21 PB/s, far exceeding GPUs by thousands of times, effectively eliminating communication bottlenecks between traditional chips, making it particularly suitable for large-scale AI training and inference, capable of efficiently processing trillion-parameter models.