Cerebras Systems' IPO

Q: When does the lock-up end?

Cerebras Systems' IPO lock-up ends Nov 9, 2026 at the latest; its prospectus lets it end sooner on the terms it sets out. Its final prospectus says: “.” Its table releases shares in stages before then: 8 earlier releases.

Listed May 14, 2026 at $185 on Nasdaq as CBRS.

Offer price

$185

Market cap

$39.8B

30,000,000

Today 41% below its $185 offer price; its first day closed +68.2%.

Breakaway does the work for you: insider and Congress trades, the chart, and the financials, in one score.

See CBRS ranked, live

See it live, free until Wednesday morning. No account. No card. Then keep going with a free account.

From its final prospectus (424B4) on SEC EDGAR, filed May 14, 2026.

What does Cerebras Systems do?

Cerebras Systems' facts, each with its source
Fact	Cerebras Systems
Incorporated	Delaware, 2016From its final prospectus (424B4) of May 14, 2026
Employees	708, as of December 31, 2025From its final prospectus (424B4) of May 14, 2026
Website	cerebras.aiFrom its final prospectus (424B4) of May 14, 2026

What is the offering?

Each figure names the filing it is from and that filing's date. The market cap is Breakaway's arithmetic from the prospectus's share count.

Cerebras Systems' facts, each with its source
Fact	Cerebras Systems
Shares offered	30,000,000From the final prospectus (424B4) filed May 14, 2026
Offer price	$185 a shareFrom the final prospectus (424B4) filed May 14, 2026
Underwriters	MORGAN STANLEY, CITIGROUP, BARCLAYS, UBS, MIZUHO, and TD COWEN, and 8 moreFrom the final prospectus (424B4) filed May 14, 2026, as its cover names them
Exchange	Nasdaq Global Select Market, as CBRSFrom the final prospectus (424B4) filed May 14, 2026
Shares outstanding after	215,110,345From the final prospectus (424B4) filed May 14, 2026
Market cap at the offer price	$39.8 billionBreakaway's arithmetic from the prospectus's share count

What the filing says about its money

Cerebras Systems' facts, each with its source
Fact	Cerebras Systems
Net income	$238 million, year to December 31, 2025From its final prospectus (424B4) of May 14, 2026, its summary financial data
Last preferred stock	Series H preferredFrom its final prospectus (424B4) of May 14, 2026
Raised before the IPO	$1.10 billion in private financingsFrom its final prospectus (424B4) of May 14, 2026

What risks does Cerebras Systems name first?

“We may not sustain our growth rate, and we may not be able to manage future growth effectively.”
“We have a history of generating net losses, and if we are unable to achieve adequate revenue growth while our expenses increase, we may not achieve and maintain profitability in the future.”
“We have a limited operating history at our current scale, and we may have difficulty evaluating our current business and accurately predicting our future revenue for the purpose of appropriately budgeting and adjusting our expenses.”

The first three of the risks its prospectus summary lists, in the company's words. The rest, and each in full, are in the filing. Read the filing.

Every date of Cerebras Systems' IPO

Cerebras Systems' IPO dates, each with its source
What	Day	Source
Registration filedForm S-1, SEC EDGAR	Sep 30, 2024	Form S-1, SEC EDGAR
Exchange registration filedexchange registration (Form 8-A), SEC EDGAR	May 11, 2026	exchange registration (Form 8-A), SEC EDGAR
Declared effective by the SECSEC notice of effectiveness, SEC EDGAR	May 13, 2026	SEC notice of effectiveness, SEC EDGAR
Pricedfinal prospectus (424B4), filed May 14, SEC EDGAR	May 13, 2026	final prospectus (424B4), filed May 14, SEC EDGAR
First tradeMassive's IPO calendar	May 14, 2026	Massive's IPO calendar
Lock-up endsfinal prospectus, SEC EDGAR: “”; 8 earlier releases in its table	Nov 9, 2026, at the latest	final prospectus, SEC EDGAR: “”; 8 earlier releases in its table

How did its first days trade?

From its daily bars, each close against its $185 offer price.

Cerebras Systems' first sessions
Day	Open	Close	From the offer
May 14	$350	$311.07	+68.1%
May 15	$298.49	$279.72	+51.2%
May 18	$291.55	$296.65	+60.4%
May 19	$292.17	$303.63	+64.1%
May 20	$317.52	$290.69	+57.1%

What is Cerebras Systems' Quality Score?

-5

Poor

114 trading days so far; 3 of the 14 checks wait for more history.

CBRS's page, with every reason behind its score

Tested. Our top-⁠scored stocks returned 2.2x the average stock over the next month. How we tested it

The other IPOs expected

The other IPOs expected or in registration
Company	Price	Market cap	Expected
OPAYNYSE: OPAY · No day yet	$19 to $21	Not yet	No day yetexchange registration Oct 26
Georgia BankingNasdaq: GBC · No day yet	Direct	Not yet	No day yetexchange registration Oct 21
Aspen NeuroscienceNasdaq: ASPE · No day yet	$15 to $17About $465M	$465Mat the midpoint	No day yetterms set Oct 26
Bambusa TherapeuticsNasdaq: BBTX · No day yet	$15 to $17About $796M	$796Mat the midpoint	No day yetterms set Oct 26
BitariNasdaq: BIAI · No day yet	$7About $302M	$302Mat the midpoint	No day yetterms set Oct 26
LIS TechnologiesNasdaq · No day yet	$5 to $7	Not yet	No day yetterms set Oct 26

Cerebras Systems IPO questions

When is Cerebras Systems' IPO?

Listed May 14, 2026 at $185 on Nasdaq as CBRS.

What is Cerebras Systems' IPO price?

Cerebras Systems' IPO priced at $185 a share, per its final prospectus of May 14, 2026.

How many shares is Cerebras Systems selling?

30,000,000 shares, per its final prospectus (424B4).

Who are the underwriters?

MORGAN STANLEY, CITIGROUP, BARCLAYS, UBS, MIZUHO, TD COWEN, NEEDHAM & COMPANY, CRAIG-⁠HALLUM, WEDBUSH SECURITIES, ROSENBLATT, ACADEMY SECURITIES, CREDIT AGRICOLE CIB, MUFG, and FIRST CITIZENS CAPITAL SECURITIES, as the prospectus's cover names them.

When does the lock-up end?

Cerebras Systems' IPO lock-⁠up ends Nov 9, 2026 at the latest; its prospectus lets it end sooner on the terms it sets out. Its final prospectus says: “.” Its table releases shares in stages before then: 8 earlier releases.

Does Breakaway rate Cerebras Systems?

Cerebras Systems has a Quality Score of -5 today. The score counts the 14 chart checks and the company's filings; a check that needs more history than a new stock has waits for it.

Can Breakaway say where Cerebras Systems' price will go?

No. Breakaway does not say where a price will go. Every figure here is from the company's SEC filings, linked on each line.

Where every figure comes from.

Each company's SEC filings on EDGAR, read twice a day: its registration (Form S-1 or F-1), the amendment that sets its price range, and its final prospectus (424B4). The shares, the price, the underwriters, the lock-up, and the company's words are the filing's, linked on each line.
The expected day is Massive's IPO calendar's, the first trade the market data's, and the moves each stock's daily closes against its offer price.
The market cap is Breakaway's arithmetic: the shares the prospectus says will be outstanding after the offering, times the midpoint of the range or the offer price.
The Quality Score is Breakaway's, from a stock's second trading day; for its first 21 sessions it is marked New listing, and each check that needs more history waits for it.
Blank-check companies (SPACs) and unit offerings are left out and counted; a direct listing and a US listing of a company listed abroad are in and marked.

We do the work for you. Every stock is scored and ranked, every 15 seconds while the market is open. Here it's 15 minutes behind. Pro members see it live.

Every new listing, ranked live, free. No account.

See all 16 new listings ranked

See it live, free until Wednesday morning. No account. No card. Then keep going with a free account.

Every IPO expected and listed, and May 2026's listings.