Cerebras Systems surged 10% to $326.5 on Tuesday. Cerebras has just completed the largest tech IPO of 2026, raising US$5.55b as the stock surged nearly 70% on debut before giving back some gains during subsequent trading volatility.

After the initial surge, CBRS has already started to see some profit taking, with a 1 day share price return of down 10.1% and the same share price return year to date as investors weigh rich expectations, recent index inclusion in the Nasdaq Composite, and the fresh shelf registration that could eventually add more shares to the market.

Investors are flooding into stocks of companies like Cerebras that are set to benefit from the billions of dollars top hyperscalers have pledged to spend building out AI capabilities.

Cerebras is prepared to work hard on further developing its unique AI computing, aiming to take a place among the leading providers of technology in that lucrative market, Chief Executive Officer Andrew Feldman said. It has the ability to more quickly produce tokens, he said, the basic units of data in large language models.

“We’re just at the beginning of AI being useful. And the more AI is useful, the more tokens are needed. And we make the fastest token,” Feldman said in an interview Thursday with Bloomberg News.

The IPO is the biggest since Medline Inc.’s $7.2 billion offering in December. It’s also the largest ever semiconductor listing in the US, topping Arm Holdings Plc’s $5.23 billion haul in 2023, the data show.