# Cerebras is looking to sell 28 million shares, for $115 to $125 each.

*business · news · 2026-05-04 · CNBC*

## Key points

- Cerebras plans to raise up to $3.5 billion in a Nasdaq IPO, targeting a $26.6 billion valuation.
- The company recently shifted its business model from hardware sales to providing AI cloud services.
- Cerebras secured a deal to provide OpenAI with 750 megawatts of AI computing power through 2028.
- Cerebras' Q4 revenue grew 76% year over year to $510 million, with $87.9 million net income.
- CEO Andrew Feldman will retain all his shares post-IPO, equating to $1.28 billion at top valuation.

**Companies:** Cerebras, Advanced Micro Devices, CoreWeave
**Countries:** United States

[Read the full story on CNBC](https://www.cnbc.com/2026/05/04/cerebras-ipo-ai-chipmaker.html)

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