Cerebras surges 89% in market debut, crosses $106 bn valuation

AI chipmaker startup Cerebras Systems debuted strongly on Nasdaq after pricing its IPO at $185 per share, raising $5.55 billion. The stock opened at $350 on Thursday, surging 89% amid growing investor interest in AI firms. "We understand how big AI will be," CEO Andrew Feldman said after the jump helped Cerebras cross $106.75 billion valuation on fully diluted basis.