Cerebras Refiles S-1 for Nasdaq IPO at $23B Valuation

Cerebras Systems, a developer of wafer-scale AI chips, refiled its S-1 registration statement with the SEC on April 17, 2026, for a proposed initial public offering on the Nasdaq Global Select Market under the ticker CBRS. This marks the company's second IPO attempt following a withdrawal in October 2025 due to prolonged CFIUS review of its ties with UAE-based G42, which accounted for nearly half of revenues from 2023-2025. The IPO targets approximately $2 billion in proceeds at a valuation range of $22-25 billion, building on a $23 billion Series H funding round closed in February 2026 led by Tiger Global with participation from AMD, Fidelity, Benchmark, Coatue, and Altimeter. Lead underwriters include Morgan Stanley, Citigroup, Barclays, and UBS, with listing now tracking for May 2026 after initial April targets shifted due to roadshow extensions.