Wayne Liang(@wliang ):$CBRS (Cerebras) IPOs on Thursday at ~$26B, raising up to $3.5B. Largest IPO of the year so far (in the US). $CBRS builds wafer-scale AI chips, an alternative architecture to GPU based approaches. Customer base includes OpenAI ($20B deal), $AMZN, and $META. Now this is pretty interesting... $25B in contracted backlog vs ~$26B IPO. That's nearly a 1:1 backlog to market cap... much better than $CRWV's ratio at the time. Or $10B of demand for a $3.5B raise... Validates the entire AI chip and inference market once again. More money flowing into competitive architectures means more confidence in the thesis. New capital flowing into the same supercycle... and if you've been following my posts, you can guess what benefits directly from the $CBRS IPO.

2026.05.10 00:11

$CBRS (Cerebras) IPOs on Thursday at ~$26B, raising up to $3.5B. Largest IPO of the year so far (in the US). $CBRS builds wafer-scale AI chips, an alternative architecture to GPU based approaches. Customer base includes OpenAI ($20B deal), $AMZN, and $META. Now this is pretty interesting... $25B in contracted backlog vs ~$26B IPO. That's nearly a 1:1 backlog to market cap... much better than $CRWV's ratio at the time. Or $10B of demand for a $3.5B raise... Validates the entire AI chip and inference market once again. More money flowing into competitive architectures means more confidence in the thesis. New capital flowing into the same supercycle... and if you've been following my posts, you can guess what benefits directly from the $CBRS IPO.