Silicon Valley A.I. chip maker Cerebras opened trading Thursday, its shares leaping 89% to $350 from a $185 IPO price. The move values the company at $75 billion and raises at least $5.6 billion for the firm, making it the largest tech debut this year and the biggest global IPO since 2019 amid a surge of AI‑related listings.

Matt Kennedy, a senior strategist at Renaissance Capital, said the A.I. IPO wave is finally heating up. Cerebras follows a path that could pave the way for other high‑profile debuts, including Elon Musk’s SpaceX, which is valued over $1 trillion, and AI labs OpenAI and Anthropic, all eyed as potential mega‑offerings for investors worldwide today again.

The company’s flagship chip, described as the largest ever built, measures about a dinner plate and can accelerate AI model training in data centers. In 2025, Cerebras posted $510 million in revenue and $238 million in profit, up from $290 million and a $482 million loss in 2024, signalling a turnaround that appeals to cloud providers for the sector.

With its IPO priced higher than most peers, Cerebras signals that demand for specialized AI hardware remains strong. Investors now eye the next wave of tech listings, while existing giants like Nvidia continue to dominate the market. The debut underscores how chip makers are positioning themselves to capture a share of the AI economy today.