Cerebras IPO Euphoria Sends CBRS Stock Into Rare Air

After a highly anticipated run-up, shares of Cerebras Systems (CBRS) debuted on May 14 with one of the craziest AI initial public offering (IPO) debuts ever seen in the markets. Demand for CBRS stock was simply incredible amidst all of the ongoing enthusiasm around next-gen AI infrastructure. Shares debuted at an already elevated price of $185, which made Cerebras one of the most expensive stocks ever to go public. 

The price action quickly turned things upside down with shares reaching beyond $350 during the first moments of trading. The stock quickly gained momentum with orders far exceeding total available shares. It was later rumored that both Arm Holdings (ARM) and SoftBank (SFTBY) discussed a potential acquisition of Cerebras prior to the actual IPO going ahead independently.