From $100 to $350: MSX Successfully Exits via Cerebras IPO, Completing the On-Chain RWA Closed Loop

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

The stock surged at the open, reaching a high of over $350 on its first day. The wealth-creation myth of tech IPOs played out once again.

For the vast majority of retail investors, this seemed like just another "fireworks display outside the window": watching others get in early, having no allocation themselves, no access channels, and no way in.

But for users participating in the MSX Pre-IPO Phase I, this day meant the realization of an early-stage layout: a purchase price of $100.35, an IPO price of $185, a first-day high of $350+, and a comprehensive return exceeding 300% in under three months of holding. It is reported that platform users who participated in the MSX Pre-IPO Phase I Cerebras project are all directly eligible for the platform's CBRS stock token airdrop.

Meanwhile, MSX will launch the Pre-IPO Phase II on May 16. This phase opens up subscriptions for two highly-watched unlisted company targets: Anthropic and Polymarket. Users can log in to the MSX Maitong platform page for details.

MSX Maitong is a leading tokenized trading platform for US stocks based on blockchain technology. Its core mission is to allow users to directly participate in the trading and investment of US stocks and high-quality blockchain assets using stablecoins. Relying on a complete full-chain process covering Pre-IPO subscription, holding, listing, and spot acquisition, it provides ordinary users with early access channels previously reserved only for institutional investors. This also marks one of the first historical full-chain exits completed by on-chain RWA in the context of top-tier tech IPOs.

Why Cerebras: MSX Pre-IPO Project Selection Criteria

In the AI chip赛道 (track), NVIDIA is almost the only name. But Cerebras is one of the few companies truly qualified to be called a "challenger." Cerebras's core product is a wafer-scale AI inference chip: physically hundreds of times larger than a standard chip, and in specific LLM inference scenarios, it claims to be 21x faster than NVIDIA's B200, while reducing energy consumption and token costs by 33% each. OpenAI, AWS, and G42 have all become its partners, with the total value of contracted terms with OpenAI exceeding $20 billion.

The IPO itself confirmed market sentiment: the original price range was set at $150-$160, but the final price was set at $185, an increase of 28%. The subscription multiple reached 20x. With 30 million shares issued and $4.8 billion raised, the listing valuation was approximately $35 billion.

This is an asset extremely difficult to get ahold of in the public market. For ordinary retail investors, the window for participation was virtually zero unless they entered before the listing. MSX Maitong chose Cerebras as the target for its Pre-IPO Phase I based on three judgments: First, Cerebras possesses genuine technological barriers in the AI chip track, not a conceptual target. Second, its customer structure—OpenAI, AWS, G42—provides sufficient commercial credibility. Third, the IPO's feasibility was clear, meeting MSX's core selection criterion for Pre-IPO projects: "exitability."

The successful exit of the Cerebras project is the first complete case for MSX's Pre-IPO segment. What it validates, beyond the due diligence on this specific target, is the genuine on-chain feasibility of the entire subscription-holding-listing-exit chain. Previously, this remained largely in the proof-of-concept stage. MSX's move is an important milestone in the industry's development. The exit of the inaugural Cerebras project provides a complete sample with data, processes, and a clear timeline.

Exit Closed Loop and Platform Trust Foundation

The term "wealth creation" has always been the deepest desire of investors and the primal driving force for countless people entering the market. However, before making an investment decision, one needs to choose a platform that truly withstands scrutiny as a safety net. MSX deeply understands that, entrusted with user assets, the security of funds and the reliability of channels are paramount principles. Based on this, MSX has constructed a complete and transparent mechanism to make every step of the process visible to investors before the asset is listed and during their position building. The process is as follows:

Subscription → Users purchase CBRS Pre-IPO shares on the MSX platform at $100.35/U, with assets recorded on-chain in token form;

Holding → From subscription to the IPO listing, users can view their holdings in real-time on the MSX platform, with asset status visible throughout the entire process;

IPO Pricing → After-hours on May 13, 2026, the final IPO price for MSX Cerebras was set at $185, approximately 84% higher than the MSX purchase price;

Official Listing → On May 14, CBRS listed on Nasdaq, surged at the open, hitting a first-day high of $350+;

Spot Selling → MSX platform simultaneously launched CBRS.M spot trading. Tokens held by Pre-IPO users were directly converted into tradable spot assets, allowing them to place sell orders at any time without waiting for a lock-up period to expire.

Cashing Out → The proceeds from selling are settled in stablecoins, completing the capital closed loop.

To illustrate with specific figures: Taking a subscription of $1000 U as an example, with a purchase price of $100.35/U, by the first-day high of $350, the corresponding holding value would be approximately $3483 U. Combined with the CBRS stock token airdrop distributed by MSX to participating Pre-IPO users, the comprehensive return exceeds 300%.

From subscription to listing, and then to the final asset locking channel of spot selling or continuing to hold, MSX has achieved both the entry point and the exit closed loop for participating in Pre-IPOs. For ordinary investors, this is the true construction of platform trust significance.

According to information from the MSX official website, as of the latest audit on May 10, 2026, MSX's total reserve fund is $79,410,391.21, with a total reserve ratio of 121.08%. The audit algorithm uses Merkle Tree + zk-SNARKs, and reserve ratios for all asset types exceed 100%: USDT 106.32%, USDC 110.86%, TSLA.M 123.11%, CRCL.M 119.39%. This means that the platform's asset reserves exceed the total user holdings at any given time.

From an industry perspective, possessing trust value and being able to open up previously high-threshold Pre-IPO projects to ordinary investors in a verifiable manner embodies the pioneering significance of the on-chain US stock ecosystem.