On May 14, 2026, at 9:30 AM Eastern Time, Cerebras Systems officially listed on Nasdaq under the stock code $CBRS.

It saw a significant increase right at the opening, reaching over $350 on its first day. The myth of wealth creation from tech stock IPOs was once again played out on this day.

For the vast majority of retail investors, this seemed like just another "fireworks outside the window": seeing others get ahead, while they had no shares, no access, and no way in.

For users who participated in the first phase of the MSX Pre-IPO, this day meant a realization of an early investment: purchased at $100.35, IPO issue price $185, first-day peak price over $350, achieving more than a 300% overall return in less than three months. It is reported that all platform users who participated in the first phase of the MSX Pre-IPO Cerebras project can directly receive air-dropped tokens of CBRS stocks.

Meanwhile, MSX will launch the second phase of Pre-IPO on May 16, with two high-profile non-listed companies available for subscription: Anthropic and Polymarket. Users can log in to the MSX Maitong platform page for details.

MSX Maitong is a leading U.S. stock tokenized trading platform based on blockchain technology, with the core positioning to allow users to participate directly in trading and investing in U.S. stocks and quality blockchain assets using stablecoins; relying on a complete process of Pre-IPO subscription, positions, listing, and spot acquisition, it has enabled ordinary users to obtain entry channels that were previously only available to institutional investors. This also marks the first historical complete chain exit in the on-chain RWA in the top tech stock IPO scenario.

Why Cerebras: MSX Pre-IPO Project Selection Criteria

In the AI chip arena, Nvidia is almost the only name. However, Cerebras is one of the few companies genuinely qualified to be called a "challenger." Cerebras' core product is a wafer-scale AI inference chip: it is hundreds of times larger than ordinary chips, boasting speeds that claim to be 21 times faster than Nvidia's B200 in specific LLM inference scenarios, while reducing both energy consumption and token costs by 33%. OpenAI, AWS, and G42 have all become its partners, with total cooperation agreements with OpenAI exceeding $20 billion.

This IPO itself also confirms the market's judgment: the originally planned issue price range was $150-$160, which was finally set at $185, an increase of 28%; the subscription multiple reached 20 times. It issued 30 million shares, raising $4.8 billion, with a listing valuation of approximately $35 billion.

This is an asset that is extremely difficult to obtain in the public market. For ordinary retail investors, the participation window is almost zero, unless they had already entered before the listing. MSX Maitong chose to include Cerebras in the first phase of Pre-IPO based on three judgments: first, Cerebras has real technological barriers in the AI chip sector, not just a conceptual target; second, its client base: OpenAI, AWS, and G42 provide sufficient commercial credibility; third, the feasibility of the IPO is clear and aligns with MSX's core screening criteria for "exitable" Pre-IPO projects.

The successful exit of the Cerebras project is the first complete case in the MSX Pre-IPO section. What it validates is not only the selection judgment of this particular asset but, more importantly, the on-chain feasibility of the complete subscription—positioning—listing—exit process: previously remaining mostly in the concept verification stage; MSX's move is an important milestone in the industry's development process. The exit of the initial Cerebras provides a complete sample with data, processes, and time nodes.

Exit Loop and Platform Trust Base

The word "wealth creation" has always been the deepest desire of investors and is the original motivation for countless people to enter the market. However, before making investment decisions, it is essential to choose a platform that can truly withstand the test as a safety net. MSX understands that under the trust of users' assets, the safety of funds and the reliability of channels are the highest principles. Accordingly, MSX has built a complete and transparent mechanism allowing investors to clearly see every part of the process before asset listing and under layout, as follows:

Subscription → Users purchase CBRS Pre-IPO shares on the MSX platform at $100.35/U, and the assets are recorded on-chain as tokens;

Position → From subscription to the IPO listing period, users can view their position status in real-time on the MSX platform; the asset status is fully visible throughout;

IPO Pricing → On May 13, 2026, after market hours, MSX Cerebras' final issuance price was set at $185, about 84% higher than the MSX purchase price;

Official Listing → On May 14, CBRS debuted on Nasdaq, soaring at the opening, with a first-day peak over $350;

Spot Sale → The MSX platform simultaneously launched CBRS.M spot trading, allowing Pre-IPO users to convert their holding tokens into tradable spot assets, where they can place sell orders at any time without waiting for a lock-up period to end.

Realization and Receipt → Proceeds from sales are settled in stablecoins, completing the funding loop.

To illustrate with specific numbers: with a subscription of $1000 U, buying price $100.35/U, at the first day peak price of $350, the corresponding position value is approximately $3483 U. Adding the CBRS stock token airdrop issued by MSX to Pre-IPO participants, the overall return rate exceeds 300%.

From subscription to listing access, to the final asset lockout channel of spot sale / retained position, MSX has realized the entry and exit loop of participating in Pre-IPO. For ordinary investors, this is the true construction of platform trust.

According to information from the MSX official website, as of the latest audit on May 10, 2026, the total reserves of MSX amount to $79,410,391.21, with a total reserve rate of 121.08%. The audit algorithm adopts Merkle Tree + zk-SNARKs, and the reserve rates for various assets exceed 100%: USDT 106.32%, USDC 110.86%, TSLA.M 123.11%, CRCL.M 119.39%. This means that the asset reserves held by the platform are always greater than the total positions of users at any given moment.

From an industry perspective, possessing trust value and being able to open up Pre-IPO projects that originally had very high thresholds to ordinary investors in a verifiable way reflects the significance of being a pioneer in the on-chain U.S. stock ecosystem.

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