Cerebras’ IPO debut highlights demand for Nvidia alternatives in AI chips

Cerebras Systems surged in its Wall Street debut on Thursday, ending its first session with a market cap just under $100 billion before trading lower on Friday. The company sells dinner-plate-sized custom ASICs and says its WSE-3 is 57 times larger than the biggest GPU and packs 50 times more transistors. Cerebras also runs its chips through its own cloud data centers, with a $20 billion OpenAI cloud deal running through 2028 and sales said to be booked out into 2027.