Cerebras Systems’ explosive Nasdaq debut has propelled the chip designer into the $100 billion club, boosting AI infrastructure landscape yet again, as it pivots from hardware sales to a direct cloud offensive against titans like Google and Microsoft. With OpenAI once eyeing the company as a "secret weapon" for AGI, this valuation milestone may only be the beginning of a massive capital markets supercycle, paving the way for highly anticipated public offerings from industry heavyweights like SpaceX, OpenAI, and Anthropic. What’s your take on the rally? Who’s going to be the next?
Welcome to the USD100B+ Club…
- Listed at USD185/share, Cerebras Systems’ (CBRS) jumped 90% above its offering price in the NASDAQ debut on May 14th, 2026, giving the chip designer a valuation of USD106.75B on a fully diluted basis (Reuters).
- In 2017, OpenAI looked at merging with Cerebras, viewing the chip company as potentially beneficial in the pursuit of artificial general intelligence, or AGI, according to testimony in Elon Musk’s trial against OpenAI. “Exclusive access to Cerebras hardware would give OpenAI an overwhelming hardware advantage over Google,” Greg Brockman, OpenAI’s co-founder and president, wrote in an email (CNBC).
- Looking ahead, Cerebras had started shifting its focus away from selling hardware systems and more toward providing a cloud service based on its chips. That means it’s going up against cloud providers such as Google and Microsoft, which are both listed as competitors, along with Oracle and CoreWeave (CNBC).
What’s Next, for CBRS & for Capital Market as a Whole?
- It seems there are more to come for CBRS - “There’s some whales out there, there’s some really big customers,” Cerebras CEO Andrew Feldman told CNBC in an interview on Thursday. “That is one of the characteristics of this market.” - So, will the stock price rally-on?
- With promising tech players allegedly in the pipeline - SpaceX IPO prospectus could land as soon as next week, sources say, according to CNBC (CNBC).
- Meanwhile, the market is gearing up for model developers OpenAI and Anthropic that could hit the market later this year (CNBC).
