Descriptions:
In a live Bloomberg Technology interview on IPO day, Cerebras CEO Andrew Feldman discusses the company’s landmark public offering, which priced at $185 per share — above the top of its marketed range — with shares indicated to open near $350. Feldman describes it as the largest semiconductor IPO in history, and one of the largest tech IPOs ever, marking what he calls the culmination of a decade of work.
Feldman details Cerebras’s commercial traction heading into the listing: a $20+ billion deal with OpenAI for 750 megawatts of compute, and a binding term sheet with AWS to embed Cerebras hardware inside Amazon’s Bedrock offering. The IPO was more than 25 times oversubscribed across institutional and retail investors. Central to the company’s pitch is its wafer-scale chip design — a processor the size of an entire silicon wafer — which Feldman says makes Cerebras 15 times faster than its nearest inference competitor, not by a small margin but by more than an order of magnitude.
The interview also digs into Cerebras’s fully vertically integrated model, building complete supercomputers top-to-tail, which produces 41% gross margins against roughly $500 million in 2024 revenues. Feldman outlines a path to expanding margins through supply chain leverage and pricing power as demand for fast AI inference continues to surge, contrasting his strategy with NVIDIA’s approach and addressing questions about customer concentration risk around OpenAI.
📺 Source: Bloomberg Technology · Published May 14, 2026
🏷️ Format: Interview
