The successful exit of the Cerebras project marks the first complete case in the MSX Pre-IPO segment. It validates not only the selection judgment of this particular asset but, more importantly, the on-chain feasibility of the entire subscription-holding-listing-exit chain—a process that had previously remained largely in the proof-of-concept stage. MSX’s action represents a significant milestone in the industry’s development. The inaugural exit of Cerebras provides a complete, data-driven, process-oriented, and timeline-defined case study.

Author and source: MSX



On May 14, 2026, at 9:30 AM Eastern Time, Cerebras Systems officially listed on Nasdaq under the stock ticker $CBRS.

It surged sharply at opening, reaching over $350 on its first day. The wealth-creation miracle of a tech stock IPO played out once again.

For the vast majority of retail investors, this seems like just another “firework outside the window”: watching others get ahead while having no allocation, no access, and no way to participate.

For users who participated in the MSX Pre-IPO Phase 1, this day represents the realization of an early investment: purchased at $100.35, IPO offering price at $185, and a first-day peak price exceeding $350, resulting in a cumulative return of over 300% with a holding period of less than three months. It is understood that all platform users who participated in the MSX Pre-IPO Phase 1 Cerebras project are eligible to directly receive a platform CBRS stock token airdrop.

Meanwhile, MSX will launch Pre-IPO Phase 2 on May 16, offering subscription access to two highly anticipated private company assets: Anthropic and Polymarket. Users can log in to the MSX platform for more details.

MSX Maetong is a leading U.S. stock tokenization platform built on blockchain technology, primarily designed to enable users to directly participate in trading and investing in U.S. stocks and high-quality blockchain assets using stablecoins. With a complete end-to-end workflow covering pre-IPO subscription, holding, listing, and spot acquisition, MSX Maetong grants ordinary users early access channels previously available only to institutional investors—marking the first historical end-to-end exit on-chain for RWA in the context of top-tier tech stock IPOs.

Why Cerebras: MSX Pre-IPO Project Selection Criteria

In the AI chip赛道, NVIDIA is almost the only name. But Cerebras is one of the few companies truly qualified to be called a “challenger.” Cerebras’s flagship product is a wafer-scale AI inference chip: physically hundreds of times larger than conventional chips, it claims to be 21 times faster than NVIDIA’s B200 in specific LLM inference scenarios, while reducing energy consumption and token costs by 33% each. OpenAI, AWS, and G42 have all become partners, with the total value of agreements signed with OpenAI exceeding $20 billion.

This IPO itself confirmed market sentiment: the original price range was set at $150–$160, but the final pricing came in at $185, a 28% increase; subscription demand reached 20 times the offering. With 30 million shares issued, the company raised $4.8 billion and achieved a market valuation of approximately $35 billion upon listing.

This is an asset that is extremely difficult to acquire on the public market. For retail investors, the opportunity to participate is virtually nonexistent unless they entered before the listing. MSX Maitong selected Cerebras for inclusion in Pre-IPO Phase I based on three key judgments: First, Cerebras possesses genuine technological barriers in the AI chip sector and is not merely a conceptual play; second, its customer base—including OpenAI, AWS, and G42—provides substantial commercial credibility; third, the IPO pathway is clear and aligns with MSX’s core criterion for Pre-IPO projects: “exit feasibility.”

The successful exit of the Cerebras project marks the first complete case in the MSX Pre-IPO segment. It validates not only the selection judgment of this particular asset but, more importantly, the on-chain feasibility of the entire subscription-holding-listing-exit chain—a process that had previously remained largely in the proof-of-concept stage. MSX’s action represents a significant milestone in the industry’s development. The inaugural exit of Cerebras provides a complete, data-driven, process-oriented, and timeline-defined case study.

Exit the closed loop and platform trust foundation

The phrase "wealth creation" has always been investors' deepest aspiration and the original driving force behind countless individuals entering the market. Before making investment decisions, it is essential to choose a platform that has truly withstood the test of time as a reliable foundation. MSX understands that, under the trust of users' assets, the security of funds and the reliability of channels are paramount principles. Based on this, MSX has built a comprehensive and transparent mechanism that makes every step—from before asset listings to during deployment—clearly visible to investors. The process is as follows:

Subscription → Users purchase CBRS Pre-IPO shares on the MSX platform at $100.35/U, with assets recorded on-chain as tokens;

Holdings → During the period from subscription to IPO listing, users can view their holdings in real time on the MSX platform, with full visibility of asset status at all times.

IPO Pricing → On May 13, 2026, after market close, MSX Cerebras finalized its offering price at $185, approximately 84% higher than the MSX purchase price;

Official listing → On May 14, CBRS debuted on Nasdaq, opening sharply higher and reaching a intraday high of over $350 on its first day.

Spot Sell → The MSX platform has officially launched spot trading for CBRS.M. Tokens held by Pre-IPO users are automatically converted into tradable spot assets, allowing you to place sell orders at any time without waiting for lock-up periods to expire.

Cash out received → Proceeds from the sale are settled in stablecoins, completing the funding cycle.

With specific numbers: For example, subscribing with $1,000 U at a purchase price of $100.35/U, the position value reaches approximately $3,483 U when the price peaks at $350 on the first day of listing. Combined with the CBRS token airdrop distributed by MSX to Pre-IPO participants, the total return exceeds 300%.

From subscription to listing access, and finally to the secure asset lock-in channel for spot selling or holding, MSX has created a complete entry and exit loop for participating in Pre-IPO offerings. For retail investors, this truly builds platform trust.

According to the latest audit as of May 10, 2026, from the MSX official website, MSX’s total reserves amount to $79,410,391.21, with a total reserve ratio of 121.08%. The audit employs the Merkle Tree + zk-SNARKs algorithm, and the reserve ratios for all asset types exceed 100%: USDT at 106.32%, USDC at 110.86%, TSLA.M at 123.11%, and CRCL.M at 119.39%. This means that the platform’s held reserves always exceed the total user holdings at any given time.

From an industry perspective, it embodies the pioneering spirit of the on-chain U.S. stock ecosystem by providing trusted value and making previously inaccessible pre-IPO projects available to retail investors in a verifiable manner.