Cerebras Systems, a designer of AI chips, saw its stock price drop below the initial public offering price of $185 per share. By early October 2026, shares were trading in the range of $164 to $177, with recent prices hovering around $165.
The company went public on May 13, 2026, selling 30 million shares to raise $5.55 billion. This valuation reached approximately $56.43 billion, marking the largest US technology IPO of the year at that time. The stock opened at $350 on Nasdaq under the ticker CBRS.
The decline follows the expiration of the company's lockup period on October 1, 2026, which was accompanied by insider sales totaling approximately $84 million. The company reported 2025 revenue of $510 million and net income of $237.8 million.
Cerebras produces wafer-scale engine processors and maintains partnerships with AWS and OpenAI. Market analysts point to risks such as customer concentration and competition from Nvidia as key factors for investors to monitor in upcoming earnings reports.
