Cerebras raises $5.6 billion in year's largest IPO

By the numbers: Cerebras priced at $185 per share, compared to the original $115-$125 price range and a revised $150-$160 plan.

• Its initial market cap is nearly $40 billion, a 73% increase over where it raised Series H funding just four months ago led by Tiger Global.

ROI: Cerebras had raised around $3 billion from firms like Alpha Wave, Benchmark, Eclipse, Fidelity, and Foundation Capital.

• Other backers included AMD, Coatue, Bow River Capital, Altimeter, 1789 Capital, DataPower Capital, Flybridge, and Atreides Management.

The bottom line: Third time's a charm, as Cerebras scrapped prior IPO plans in both 2024 and 2025.