AI Semiconductors
Cerebras Systems
The maker of the Wafer Scale Engine, the largest computer chip ever built, positioned as a direct NVIDIA challenger for both AI training and inference workloads. Cerebras completed the largest tech IPO of 2026 on May 14, raising $5.55 billion at an implied $56.43 billion valuation after its stock surged 108% on debut, having previously raised a $1 billion Series H in February 2026 at a $23 billion private valuation; the company reported 2025 revenue of $510 million (up 76% year-over-year) and swung to a $237.8 million net profit, with a roughly $10 billion multi-year compute deal with OpenAI featured prominently in its IPO filing.
Leading Indicators
Hiring and patent filing trends — the underlying numbers Momentum is computed from. Insider filing activity is tracked separately under Sources below.
Additional Intelligence Signals
Patent citation lineage, earnings-call mentions, and federal contract disclosures — automatically collected, not yet visible anywhere else on the site.
Federal contract disclosures
Department of Energy — $1,841,000: PURCHASE OF WAFER SCALE ENGINE, HARDWARE AND SOFTWARE SUPPORT, & REMOTE ACCESS FROM CEREBRAS.
USAspending.gov · Jun 18, 2025
Sources
Every claim traced to a primary source — evidence, recent activity, and insider filing behavior, all in one place.
Evidence
2 sources · 71% avg. source confidence
- TechCrunch / Axios — Cerebras raises $5.55B in largest tech IPO of 2026, stock surges 108%60% source confidence
- CNBC — Cerebras prices IPO above range at $185/share, valuation more than doubles to $56.4B from $23B82% source confidence
Insider Filing Activity
Counts filing frequency only — transaction direction/size wasn't parseable from the sampled filings · sourced from SEC EDGAR · as of Jul 28, 2026
Dependency Map
What Cerebras Systems depends on below, and who depends on Cerebras Systems above — click any node to make it the new center, 2 levels deep.
Connection type
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The Story So Far (last 6 months)
Auto-generated from this entity's dated milestones, relationship updates, and sourced evidence — not AI-written, just sorted.
Market Intelligence
UnverifiedCredibly-reported claims — analyst notes, sourcing citing “people familiar with the matter,” deals where the companies involved declined to comment — that haven't been officially confirmed. Kept structurally separate from the sourced evidence above; treat as a lead worth researching further, not an established fact.
Reportedly explored $1 billion private round and a new customer reveal ahead of IPO
38% confidenceAhead of its eventual IPO, Cerebras was reported to be in discussions to raise up to $1 billion in private funding at a roughly $22 billion valuation, with a report suggesting the company could unveil a new customer alongside the round.
Reported by The Information (via Seeking Alpha/TipRanks summary) citing people familiar with the discussions; the customer reveal was speculative and the private round was superseded by Cerebras' public listing later in 2026.
The Information (via Seeking Alpha) · Jan 1, 2026
Cerebras Systems's Timeline
A sourced, dated history of Cerebras Systems's key moments — founding to present.
Jan 2026 · Announces first European data center capacity
Cerebras announced plans to launch its first European data-center capacity before the end of 2026, expanding across France and the Nordics as part of its post-IPO international growth strategy.
Feb 2026 · $1B Series H at $23B valuation
Cerebras raised a $1 billion Series H round at a $23 billion valuation, part of more than $4 billion in private funding raised across eight rounds.
May 2026 · IPO raises $5.55B, stock surges 108% on debut
Cerebras completed the largest tech IPO of 2026 on NASDAQ under ticker CBRS, raising $5.55 billion at an implied $56.43 billion valuation after pricing shares at $185 (above an upsized range); the stock opened at $385, up 108%, as the company reported 2025 revenue of $510 million (up 76% year-over-year) and a swing to $237.8 million in net income, featuring a roughly $10 billion multi-year compute deal with OpenAI in its IPO filing.