Nvidia challenger Cerebras scheduled for a high open in tonight's US stock IPO, on-chain bulls strongly resist over 70% premium to go long

ME News Report: On May 14 (UTC+8), AI chip maker Cerebras, nicknamed the “Nvidia Challenger,” will go public on the U.S. stock market today, trading under the stock symbol CBRS. The IPO is priced at $185 per share, with 30,000,000 shares sold, raising approximately $5.55 billion—one of the largest IPOs this year in the AI infrastructure sector.

In January, OpenAI previously signed an agreement worth over $10 billion with Cerebras. OpenAI holds warrants that allow it to buy more than 33,000,000 shares.

Currently, on the Hyperliquid chain, on the Perp DEX Trade.xyz, Cerebras’ pre-IPO price is quoted at $288 per share, once breaking above $320. This represents a premium of over 70% versus the U.S. IPO price. The 24-hour trading volume is close to $20 million, and open interest has surged to $28.30 million. Notably, the on-chain funding rate for Cerebras’ pre-IPO contracts has shifted from negative to positive, indicating that investors are increasingly bullish on Cerebras and betting that this night’s IPO will open strong and run high.

In addition, Cerebras’ chip design features the complete, full surface area of an entire silicon wafer, whereas traditional manufacturing typically etches dozens of chips on the same wafer. Cerebras’ single-chip, wafer-level design integrates 400 trillion transistors and about 900,000 AI-optimized cores, with on-chip memory up to 44 GB and memory bandwidth reaching 21 PB/s—far exceeding that of GPUs by thousands of times. It completely eliminates traditional chip-to-chip communication bottlenecks, making it especially suitable for ultra-large-scale AI training and inference, and enabling efficient handling of trillion-parameter models.

(Source: BlockBeats)