Where Cerebras' monster debut puts in among tech's biggest IPOs

Cerebras Systems has made a significant impact on the stock market, finishing its first day of trading with shares soaring 68%, leading to a valuation of approximately $95 billion. This impressive debut narrowly places the semiconductor firm outside the exclusive club of companies like Meta and Alibaba, which both surpassed the $100 billion mark on their initial trading days. In comparison, Alibaba's 2014 IPO saw it close with a staggering market cap of over $231 billion, while Facebook ended its first day valued at around $104 billion back in 2012. Notably, Alibaba had reported revenues of $5.5 billion the year before going public, and Facebook posted $3.7 billion in sales prior to its IPO. In contrast, Cerebras, while smaller, generated $510 million in revenue in 2025. A major boost for Cerebras came from a multiyear agreement with OpenAI worth over $20 billion signed in January, alongside a partnership with Amazon Web Services initiated in March. This strategic positioning has fueled optimism around Cerebras' potential for growth. The IPO landscape is buzzing, especially after Coinbase reached a market cap of $100 billion upon its public offering in 2021, although that figure later adjusted to $85.8 billion at close. Coinbase had reported $1.28 billion in revenue in the year leading up to its IPO, with a remarkable ninefold increase in revenue to $1.8 billion in the quarter before going public as cryptocurrency trading surged. Cerebras' remarkable IPO could signal the start of more significant public offerings this year, with notable players like SpaceX, OpenAI, and Anthropic potentially following suit. The market is watching closely as the tech sector continues to evolve and expand.