Cerebras Systems (CBRS) proved to be one of the hottest initial public offerings (IPOs) of 2026. When Cerebras announced the IPO launch, the offering price was expected in the range of $115 to $125. However, Cerebras ended up selling 34.5 million shares (including the exercise of options by underwriters) at $185 per share.
The listing hit the ball out of the park, with CBRS stock touching a high of roughly $386. Without a doubt, though, there was some degree of irrational exuberance amid the debut. Since the IPO, there has been a meaningful, healthy correction from the highs.