Prior to the highly anticipated blockbuster IPO of SpaceX, three prominent artificial intelligence companies are moving forward to gauge investor appetite and risk tolerance. According to reports, as the window for technology IPOs reopens, AI chipmaker Cerebras, cloud computing infrastructure provider CoreWeave, and data platform Databricks are all planning to go public in the near term, with a combined fundraising target expected to exceed $10 billion. These three IPOs will serve as a key indicator of market acceptance for new technology stocks ahead of the SpaceX listing.
Cerebras Systems is aiming to raise up to $4 billion through its IPO, targeting a valuation of approximately $40 billion. The chipmaker’s flagship product is touted as the world’s largest AI processor, directly challenging Nvidia’s market dominance. Underwriting banks have already received over $10 billion in potential subscription interest, indicating strong institutional demand.
Since its IPO in March 2025, CoreWeave’s stock price has surged by 245%, with an additional 93% gain year-to-date. The company, which specializes in leasing access to the latest Nvidia chips for computational power, has recently signed cooperation agreements with Meta, Anthropic, and Jane Street, further fueling market enthusiasm. Market expectations suggest its first-quarter revenue will approach $2 billion, doubling compared to the same period last year.
Following a $5 billion funding round in February, Databricks reached a valuation of $134 billion, with company executives clearly stating their readiness to go public. Its annualized revenue has surpassed $5.4 billion, growing 65% year-over-year, with AI-related business serving as the core growth driver.
The IPOs of these three AI companies are seen as a crucial stress test for the market. If investors continue to embrace their high valuations, it will pave the way for larger subsequent offerings such as SpaceX. Conversely, if investors exhibit caution, it could cool the broader wave of technology stock listings.