「NVIDIA Challenger」 Cerebras to List Next Week, On-chain Pre-IPO Price Surges 17.8% in 24 Hours, Breaking $290

Cerebras, the AI chipmaker dubbed a "NVIDIA challenger," is set to go public on May 14 under the ticker CBRS. Its IPO price range is $115 to $125 per share, with a $3.5 billion fundraising target at the top end of that range. In January, OpenAI signed a $10 billion-plus cooperation deal with Cerebras and holds warrants to purchase over 33 million shares. Cerebras’ chip stands out for occupying an entire silicon wafer’s surface—unlike traditional chips, which typically have dozens etched onto the same wafer. Its single wafer-level design packs 400 trillion transistors and roughly 900,000 AI-optimized cores, plus up to 44 GB of on-chip memory and 21 PB/s of memory bandwidth—thousands of times better than GPUs. This design eliminates the inter-chip communication bottleneck of traditional setups, making it ideal for large-scale AI training and inference, including trillion-parameter models. On Hyperliquid chain’s perpetual DEX Trade.xyz, Cerebras’ pre-IPO price has surged 17.8% in 24 hours to $290.77 per share. The 24-hour trading volume is $2.58 million, with open interest at $8.07 million.