Cerebras Payday Includes Tiger—And SPVs

Earlier this morning we published exclusive returns on some of the biggest investors in AI chip designer Cerebras, whose shares surged in their first day of trading. The offering represents welcome cash for investors after they’ve seen initial public offerings get delayed year after year. 

Tiger Global Management, for instance, bought shares in September 2025 and earlier this year, when it led a $1 billion investment priced at $89 a share. Its investments returned $1 billion based on the company’s IPO price, according to someone close to the firm; the actual number will depend on where Cerebras stock is trading when Tiger sells. The stock popped in its first day of trading, closing at $311 a share.