US Stock Market Move | Cerebras Systems (CRBS.US) skyrockets 100% at market open, with a market capitalization exceeding $79 billion.

On Thursday, the artificial intelligence chip manufacturer Cerebras Systems (CRBS.US) opened at $350 on its first day of trading on the Nasdaq, then surged to $371, a gain of over 100%, with a market value exceeding $79 billion. The IPO price was $185. With its signature "Wafer Scale Engine" architecture (WSE), Cerebras is believed to have the potential to challenge NVIDIA Corporation's (NVDA.US) dominant position in the market when processing large-scale language models. Additionally, the company achieved revenue of $5.1 billion and net profit of $2.38 billion in the fiscal year of 2025, compared to a net loss of $4.848 billion and revenue of $2.903 billion in the previous year.