AI chip startup Cerebras Systems filed an S-1 with the SEC on April 17, 2026, targeting a Nasdaq listing under ticker CBRS at a ~$23B valuation. As of May 4, the company is targeting a $3.5B raise at $115–$125 per share. The 2025 revenue reported in the S-1 was $510M. Key disclosed agreements include a $20B+ Master Relationship Agreement with OpenAI for 750 MW of AI inference capacity expandable to 2 GW through 2028, and a binding term sheet to integrate Cerebras CS-3 wafer-scale hardware into Amazon Bedrock. Cerebras had previously withdrawn an IPO attempt in 2024 after a federal review of investment from Abu Dhabi-based G42.