Cerebras Systems, a competitor to chipmaking giant Nvidia (NVDA), is giving its public market debut another shot. The AI chipmaker is set to launch the roadshow for its initial public offering (IPO) on Monday, April 4, and could raise up to $4 billion at a valuation of roughly $40 billion, according to Bloomberg.
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Trade NVDA with leverageCerebras Makes a Fresh Run at an IPO
A roadshow is a series of meetings where a company, alongside its underwriters, pitches its IPO to potential investors such as asset managers, hedge funds, and pension funds, giving the company insight into the level of interest in the offering. The formal marketing activity usually precedes the setting of the final offer price for the IPO. Cerebras plans to list under the ticker “CBRS.”
Cerebras’ second attempt at an IPO comes as tech giants, including Nvidia, continue to spend massively on AI and are racing to build their own in-house AI chips even as demand remains strong. The company first filed IPO paperwork in 2024 and planned to go public last year but shelved the plans in October amid U.S. concerns about the Chinese ties of its former minority investor G42, a UAE-based tech conglomerate.
Already, existing investor interest shows the company could get more than $10 billion of orders, according to the outlet. This comes even as insider sources have told Reuters the offering could be priced between $15 and $125 per share.
Cerebras Builds War Chest to Challenge Nvidia
Cerebras operates out of Sunnyvale, California, and builds wafer-scale AI hardware. This refers to chips built using an entire silicon wafer — rather than cutting them into tiny pieces — as a processor.
This design is believed to offer superior computing and memory capacity tailored for AI training and inference, such as using AI to field user queries. Cerebras’ products are seen as competitors to Nvidia’s conventional graphics processing units.
The company has continued to bolster its financial war chest, raising $1 billion earlier in February at a $23 billion valuation. In September 2025, the company’s valuation had stood at $8.1 billion after a $1.1 billion fundraise in that month.
Cerebras has reportedly secured a $20 billion deal from OpenAI to provide access to servers powered by its chips. This adds to another $10 billion, 750-megawatt arrangement between both companies.
Which Other IPOs Are on the Way?
TipRanks’ IPO Calendar shows IPOs expected in the days ahead, including from Rare Earths Americas.
