Dominari Holdings Inc. (NASDAQ: DOMH) announced its early investment in Cerebras Systems (NASDAQ: CBRS) generated approximately 9 times the initial investment following the AI chip company's initial public offering on May 14.

Cerebras shares opened at $185 and closed at $311.07 on their first trading day, representing a 68% increase. Dominari Securities' special purpose vehicles invested approximately $10 million in Cerebras at $39 per share through direct cap table participation.

The closing price of $311.07 represents approximately $20 million in carry for Dominari's firm, according to the company's press release statement. Dominari congratulated Cerebras CEO Andrew Feldman and the company's team on the public market debut.

Dominari Holdings operates as a holding company engaged in wealth management, investment banking, sales and trading, and asset management through various subsidiaries. The company provides management support to subsidiary executive teams and seeks growth opportunities in AI and data center sectors.

Dominari Securities LLC, a principal subsidiary, offers securities brokerage and registered investment adviser services and is a member of FINRA, MSRB and SIPC.