BlockBeats report: On May 16, U.S. AI chip company Cerebras Systems officially listed on Nasdaq, becoming the largest IPO globally since 2026, raising approximately $5.55 billion. Its stock surged as much as 108% during trading, closing its first day with a market capitalization of $67 billion.
The company specializes in wafer-scale mega AI chip architecture and is regarded by the market as a key competitor challenging Nvidia's GPU dominance, with computing power orders secured from multiple AI companies, including OpenAI.
Notably, 1789 Capital, which involves Donald Trump Jr., appears on its investor list. The firm participated in two funding rounds for Cerebras since 2025 and has continued to increase its investment in subsequent rounds.
Before its IPO, Cerebras completed multiple funding rounds, with its valuation rising to $23 billion and attracting investment from leading institutions and industry players such as Benchmark, Fidelity, and AMD, creating a diversified shareholder base spanning Silicon Valley and Wall Street.
Analysts noted that this IPO not only marks a significant milestone for the AI chip sector but also further amplifies the trend of capital concentration in the AI infrastructure space, while the involvement of investment institutions linked to political families has added further market and public attention to the transaction.