Cerebras Systems soared in its Nasdaq debut on Thursday, opening at $350 after selling shares at $185, well above the company's expected range. That values the chipmaker at over $100 billion. The company sold 30 million shares in its offering late Wednesday, raising $5.55 billion , the largest IPO for a U.S. tech company since Uber's debut in 2019. If underwriters exercise their option to buy 4.5 million additional shares, total proceeds could reach $6.38 billion. Cerebras, based in Silicon Valley, is benefiting from the artificial intelligence boom, which has lifted wide swaths of the semiconductor space in recent months, with Intel , Advanced Micro Devices and Micron all notching triple-digit gains this year. The VanEck Semiconductor ETF has jumped 58% so far in 2026. The rise of AI agents that can automatically complete tasks has boosted demand for Nvidia's dominant graphics processing units, as well as more traditional central processing units.…