$CBRS shares gained 68% immediately after IPO today, 14 May. Cerebras is an AI semiconductor and systems company that designs processors for AI training and inference. Its third-generation Wafer-Scale Engine (WSE-3) is described as the largest chip ever sold. Cerebras initially priced its IPO at $185 per share, set to raise approximately $1.785 billion. J.P. Morgan, Bank of America, Barclays, and RBC acted as bookrunners. This is the headline deal of the month.