Cerebras Upsizes IPO to $4.8B, Valued at $34.4B — OpenAI Holds $334M in Warrants

Cerebras has upsized its IPO to 30 million shares at $150 to $160 each, aiming to raise up to $4.8 billion.

At the top of the range, the AI chipmaker would be valued at about $34.4 billion.

The filing also disclosed that OpenAI holds 33.4 million Cerebras warrants.

Shares are expected to price on May 13 and trade on Nasdaq under the ticker CBRS.

The larger offering signals strong demand for AI infrastructure stocks and tight financial ties across the sector.