HAUPPAUGE, N.Y., May 13, 2026 (GLOBE NEWSWIRE) -- TSG Invest, a multi-entity investment firm providing accredited investors with research and access to pre-IPO opportunities, today announced that Cerebras Systems will become the first company in its proprietary TSG Venture 50 Index to complete an initial public offering. The Sunnyvale, California-based AI chip maker is expected to begin trading on the Nasdaq under the ticker symbol CBRS on May 14, 2026, in what is on track to be the largest U.S. technology IPO of the year. Cerebras has been part of TSG's pre-IPO coverage since the index launched, and its listing marks the first liquidity event for a Venture 50 constituent.

Cerebras raised its expected IPO price range on May 11 to $150 to $160 per share, up from an initial range of $115 to $125, after the offering drew demand for more than 20 times the available shares. The company is marketing 30 million shares and could raise up to approximately $4.8 billion at the top of the range, with a fully diluted valuation approaching $49 billion. Morgan Stanley, Citigroup, Barclays, and UBS are serving as joint lead bookrunners on the offering.

Founded in 2016 and led by Chief Executive Officer Andrew Feldman, Cerebras builds wafer-scale AI systems engineered around the Wafer Scale Engine, a processor that places compute, memory, and interconnect on a single piece of silicon rather than stitching together many smaller chips. The company reported $510 million in 2025 revenue, up 76 percent year over year, with $237.8 million in non-GAAP net income. In January 2026, Cerebras announced a multi-year agreement with OpenAI valued at more than $10 billion to supply 750 megawatts of low-latency AI compute capacity, alongside existing relationships with G42, MBZUAI, and ...