Cerebras Systems Inc. announced the pricing of its initial public offering at $185.00 per share for 30 million shares of Class A common stock. The AI infrastructure company expects to raise $5.55 billion from the offering.

The company granted underwriters a 30-day option to purchase up to 4.5 million additional shares at the offering price, less underwriting discounts and commissions. This could increase total proceeds to approximately $6.38 billion if the option is exercised in full.

Shares are expected to begin trading on the Nasdaq Global Select Market on May 14, 2026, under the ticker symbol NASDAQ: CBRS. The offering is scheduled to close on May 15, 2026, subject to customary closing conditions.

Morgan Stanley, Citigroup, Barclays, and UBS Investment Bank serve as lead book-running managers for the offering. Mizuho and TD Cowen are acting as bookrunners, while Needham & Company, Craig-Hallum, Wedbush Securities, Rosenblatt, Academy Securities, Credit Agricole CIB, MUFG, and First Citizens Capital Securities serve as co-managers.

Cerebras develops AI processing technology, including the Wafer-Scale Engine 3 processor. The company states its processor is 58 times larger than leading GPU chips and delivers inference up to 15 times faster than GPU-based solutions on open-source models. The Securities and Exchange Commission declared the registration statement for the securities effective.