Cerebras Systems, which designs and produces semiconductors and supercomputers, and provides AI services, raised the proposed deal size for its upcoming IPO on Monday.
The Sunnyvale, CA-based company now plans to raise $4.7 billion by offering 30 million shares at a price range of $150 to $160. The company had previously filed to offer 28 million shares at a price range of $115 to $125.
Cerebras believes its core innovation is the world's first and only commercialized wafer-scale processor. Called the Wafer-Scale Engine (WSE), it states that its processor is 58 times larger than NVIDIA's B200 chip and has 2,625 times more memory bandwidth than NVIDIA's B200 package, which contains two individual chips.
Cerebras Systems was founded in 2016 and booked $510 million in revenue for the 12 months ended December 31, 2025. It plans to list on the Nasdaq under the symbol CBRS. Morgan Stanley, Citi, Barclays, UBS Investment Bank, Mizuho Securities, and TD Securities are the joint bookrunners on the deal. It is expected to price the week of May 11, 2026.
