Cerebras' blockbuster IPO boosts hype for SpaceX and OpenAI, but crowds out smaller players

Andrew Feldman, co-founder and chief executive officer of Cerebras Systems Inc., center left, during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, US, on Thursday, May 14, 2026. Bloomberg | Bloomberg | Cerebras Systems ' raucous IPO this week gave investors a taste of what's to come in artificial intelligence. But it also served as a reminder of how hard it is for non-AI companies to capture Wall Street's attention. Shares of the AI chipmaker popped almost 70% in their market debut on Thursday, lifting the company's market cap to about $95 billion. Only two tech companies have ever closed their first day of trading in the U.S. with valuations of $100 billion or