# Cerebras Systems is preparing to sell 28 million shares at $115 to $125 a share.

*semiconductor · news · 2026-05-04 · TechCrunch*

## Key points

- Cerebras Systems is preparing an IPO aiming for a $26.6 billion valuation at the high end.
- OpenAI loaned Cerebras $1 billion in December, securing warrants for over 33 million shares.
- OpenAI once considered acquiring Cerebras, according to legal filings in Elon Musk's lawsuit.
- Cerebras' IPO was delayed by a federal review of investment from Abu Dhabi-based customer G42.
- Cerebras' new multi-year agreement with OpenAI is worth more than $10 billion.

**Companies:** OpenAI, AMD, Cerebras Systems, Alpha Wave, Benchmark, Eclipse, Fidelity, Foundation Capital, 1789 Capital, Abu Dhabi Growth Fund, G42, Alpha Wave Global, Altimeter, Atreides Management, Coatue, Moore Strategic Ventures, Tiger Global, Valor Equity Partners, VY Capital
**Countries:** United States, Abu Dhabi

[Read the full story on TechCrunch](https://techcrunch.com/2026/05/04/openais-cozy-partner-cerebras-is-on-track-for-a-blockbuster-ipo/)

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