Cerebras raises $5.5B, then stock pops $108%, in the first huge tech IPO of 2026

Cerebras Systems raised $5.5 billion in its IPO on Thursday, pricing shares at $185 Wednesday evening, way higher than its range ($115 to $125, later raised to $150-$160), even as it increased the size of the offering to 30 million shares.

It then opened to public trading at $385, more than double (up 108%), as retail investors bid up the price to grab them. The stock cooled only slightly soon after. It is currently trading heavily mid-day at above $330.