Cerebras raises IPO range to $150-160, up to $48.8B valuation

AI accelerator company Cerebras raised its IPO range from $115-125 to $150-160 for a 30M-share offering, targeting roughly $4.8B in proceeds at up to a $48.8B fully diluted valuation. More than 20x demand drove the increase. Pricing is scheduled for May 13 and Nasdaq listing for May 14 under ticker CBRS. Cerebras posted $510M in 2025 revenue and holds a 750MW compute contract with OpenAI.