IPO Journey

Cerebras Systems Inc.

IPO Date: May 14, 2026 · 4 filings tracked

Final Offer Terms

Ticker

CBRS

Exchange

Nasdaq Global Select Market

Offer Price

$185

Shares Offered

30,000,000

Estimated Proceeds

$5.6B

Underwriters

Led by Morgan Stanley, Citigroup

S-1

April 17, 2026

Revolutionary 'Wafer-Scale Engine' chip architecture delivers AI processing speeds up to 15x faster than industry standards.
Rapid revenue growth, reaching $510 million in the first nine months of 2025—a 76% increase year-over-year.

S-1/A

May 4, 2026

Proprietary 'Wafer-Scale Engine' chip architecture delivers AI inference speeds up to 15x faster than standard systems.
Explosive revenue growth from $24.6 million in 2022 to $510 million in 2025.

Changes from previous filing

S-1/A

May 11, 2026

Proprietary 'Wafer-Scale Engine' technology delivers AI inference speeds up to 15x faster than standard GPU setups.
Rapid revenue growth, scaling from $24.6 million in 2022 to $510 million in the most recent period.

Changes from previous filing

424B4 Final Pricing

May 14, 2026

Innovative 'Wafer Scale Engine' architecture eliminates data bottlenecks between chips
Rapid revenue growth from $290.3M in 2024 to $510M in 2025

Changes from previous filing

▸ Price range removed
▸ Final offer price: $185.0 per share
▸ Estimated proceeds: $5550M
▸ Underwriters: Morgan Stanley, Citigroup, Barclays, UBS Investment Bank, Mizuho, TD Cowen, Needham & Company, Craig-Hallum, Wedbush Securities, Rosenblatt, Academy Securities, Credit Agricole CIB, MUFG, First Citizens Capital Securities

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