Cerebras’s valuation jumped a bit too hard—$67 billion on day one. Trump Jr.’s pre-IPO bet with 1789 Capital really paid off.

Cerebras Systems went public on NASDAQ on May 16, raising approximately $5.55 billion, with a 108% intraday increase, and a first-day market value of about $67 billion. The company's wafer-scale giant AI chips are seen as a potential competitor to Nvidia and have secured computing power orders from OpenAI and others. 1789 Capital (involved with Donald Trump Jr.) participated in pre-IPO financing, with a valuation of about $23 billion, and shareholders span Silicon Valley and Wall Street. Analysts say this IPO intensifies the concentration of capital in AI infrastructure, drawing market attention.