Cerebras Systems develops wafer-scale processors that place very large numbers of AI-optimized cores on a single chip. Its Wafer Scale Engine approach is designed to keep AI models on one device rather than distributing workloads across clusters of smaller GPUs. The company completed a blockbuster IPO on May 14, 2026, raising approximately $6.38 billion on Nasdaq under ticker CBRS. Shares priced at $185, opened at $385 (up 108%), and closed the first day at $311 for a valuation of about $66 billion.

The company sells systems used for training and inference workloads in scientific research and enterprise AI settings. Customers include OpenAI, Amazon Web Services, G42, Meta, GSK, Mayo Clinic, Notion, LiveKit, and major research institutions like Argonne National Laboratory. Cerebras solutions are available on premises and in the cloud, with inference speeds up to 15 times faster than leading GPU-based solutions as benchmarked on open-source models.