Cerebras Systems

Public CBRS Nasdaq Listed Thu May 14

Cerebras Systems builds wafer-scale AI processors — chips the size of an entire silicon wafer. Their Wafer-Scale Engine 3 (WSE-3) contains 4 trillion transistors and 900,000 AI cores, making it the world's largest chip. Cerebras filed its public S-1 with the SEC on April 17, 2026, targeting a May 2026 Nasdaq listing under ticker CBRS. Morgan Stanley is the lead underwriter (replacing Citigroup from the 2024 confidential filing). FY2025 revenue reached $510M (+76% YoY) with $87.9M net income — a dramatic swing from -$485M in 2024. The primary driver is a $20B+ multi-year deal with OpenAI for 750MW of Cerebras compute through 2028. OpenAI also provided a $1B loan and warrants for 33.4M shares. Amazon AWS has integrated WSE-3 chips into cloud infrastructure. G42 was removed from the cap table in March 2025, clearing CFIUS concerns that blocked the earlier IPO attempt.

TechStackIPO editorial note. Cerebras (Nasdaq: CBRS) filed its S-1 mid-April 2026 and listed on Nasdaq May 14, 2026 — we tracked Cerebras through the $510M revenue, $87.9M net income, and the AI-inference vs. Nvidia framing all the way through to listing day. Now that Cerebras is public, day-to-day trading data belongs on the exchange. This page preserves the pre-IPO coverage trail — for live quotes and post-IPO performance, follow EDGAR or the Nasdaq listing below.