Cerebras Is the Biggest IPO of the Year. If You Buy CBRS Stock Now, Brace Yourself for Volatility Ahead.

The biggest initial public offering of 2026 – so far – went better than many expected. Cerebras Systems (CBRS), a maker of dinner plate-sized semiconductor chips capable of training and running artificial intelligence models and programs, went public on May 14.

Cerebras had set an IPO price of $185, but the stock opened at a whopping $350 and reached an intraday high of $385 before closing the day at $311, putting the company’s value at about $67 billion.