Karla Barker 
Shares of AI chipmaker Cerebras Systems (CBRS) nearly doubled in their first day of trading, closing around $367 after a volatile session. The company priced its initial public offering on Wednesday at $185 per share, giving it a valuation of roughly $40 billion, according to the Financial Times.
From $8 billion to $40 billion in eight months
The valuation jump is striking. Just eight months ago, Cerebras was valued at $8.1 billion. The sharp increase reflects a broader frenzy for AI-related companies, especially those tied to tools like ChatGPT and Claude Code. Cerebras builds specialized chips for AI workloads, competing directly with Nvidia and Advanced Micro Devices. Its systems are designed to train and run large language models that need massive computing power.
AI stock rally fuels broader market gains
The debut comes as AI stocks continue to attract huge investor interest. Intel has gained 218% this year. AMD and Micron Technology have more than doubled. Even the Philadelphia Semiconductor Index, a broad gauge, is up 66%. That far outpaces the S&P 500’s 8% gain so far.
Some crypto investors are starting to worry that all this speculative capital is shifting away from digital assets and into AI stocks. Bitcoin has fallen 7% this year and remains stuck below $80,000. It’s hard to say if that trend will continue, but the contrast is clear. For now, AI chips are the hot ticket, and Cerebras is riding that wave.