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

On May 14, 2026, at 9:30 AM EST, Cerebras Systems officially debuted on the Nasdaq Stock Market under the ticker $CBRS.

The stock surged at the opening bell, hitting a high of over $350 on its first day. The wealth-creating legend of tech IPOs played out once again.

For the vast majority of retail investors, this seemed like just another "spectacle outside the window": watching others get in first, with no allocation, no access, and no means to participate themselves.

But for users who participated in the first phase of the MSX Pre-IPO offering, this day marked the payoff of an early-stage investment: an entry price of $100.35, an IPO offering price of $185, a first-day high of over $350, and a comprehensive return exceeding 300% in less than three months of holding. It is reported that platform users who participated in the MSX Pre-IPO Phase 1 Cerebras project are directly eligible to receive the platform's CBRS stock token airdrop.

Meanwhile, MSX will launch the second phase of its Pre-IPO on May 16, featuring subscriptions for two highly anticipated private companies: Anthropic and Polymarket. Users can log in to the MSX Maitong platform page for details.

MSX Maitong is a leading blockchain-based platform for the tokenization of US stocks. Its core mission is to enable users to directly participate in the trading and investment of US stocks and high-quality blockchain assets using stablecoins. With a complete end-to-end process covering Pre-IPO subscription, holding, listing, and spot acquisition, it provides ordinary users with early-stage entry channels previously exclusive to institutional investors. This also marks one of the first historical, complete on-chain RWA exit pathways in the top-tier tech stock IPO landscape.

Why Cerebras: MSX Pre-IPO Project Selection Criteria

In the AI chip race, NVIDIA is almost a household name. But Cerebras is one of the few companies truly worthy of being 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 21 times faster than NVIDIA's B200, while also reducing energy consumption and token costs by 33% each. OpenAI, AWS, and G42 have all become its partners, with the total contract value signed with OpenAI exceeding $20 billion.

The IPO itself validated the market's judgment: the initial pricing range was $150-$160, but it was ultimately priced at $185, a 28% increase. The subscription multiple reached 20 times. With 30 million shares issued and $4.8 billion raised, the listing valued the company at approximately $35 billion.

This is a target extremely difficult to secure in the public market. For ordinary retail investors, the window of opportunity was nearly zero unless they entered before the listing. MSX Maitong selected Cerebras for its Phase 1 Pre-IPO based on three judgments: First, Cerebras possesses genuine technological barriers in the AI chip track, not just a conceptual target. Second, its client base, including OpenAI, AWS, and G42, provides ample commercial credibility. Third, the IPO feasibility was clear, meeting MSX's core screening criteria for "exit viability" in Pre-IPO projects.

The successful exit of the Cerebras project is the first complete case study for the MSX Pre-IPO segment. What it validated extends beyond the selection judgment for this single target; more importantly, it demonstrated the genuine on-chain feasibility of the entire subscription-holding-listing-exit pathway. Previously, this remained largely in the proof-of-concept stage; MSX's move represents a significant milestone in the industry's development. The exit of the pioneering Cerebras offering provides a complete sample with data, processes, and timelines.

Exit Loop and the Foundation of Platform Trust

The term "wealth creation" has always been the deepest desire for investors, the primal driving force for countless people to enter the market. But before making an investment decision, one must choose a platform that truly withstands scrutiny to serve as a safety net. MSX understands that under the trust of user assets, the security of funds and the reliability of channels are paramount. Based on this, MSX has built a complete and transparent mechanism that makes every step of the process visible to investors, from before the asset's listing and during their layout. 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 as tokens.

Holding → From the time of subscription until the IPO listing, users can view their holdings in real-time on the MSX platform, with full visibility into asset status throughout the entire period.

IPO Pricing → After the market close on May 13, 2026, the final offering price for MSX Cerebras was set at $185, approximately 84% higher than the MSX purchase price.

Official Listing → On May 14, CBRS debuted on the Nasdaq, opening with a surge and hitting a high of over $350 on its first day.

Spot Selling → MSX 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.

Cash Withdrawal → Proceeds from sales are settled in stablecoins, completing the capital loop.

To illustrate with concrete numbers: Using a $1,000 U subscription as an example, at an entry price of $100.35/U and a first-day high of $350, the corresponding holding value would be approximately $3,483 U. Combined with the CBRS stock token airdrop distributed by MSX to Pre-IPO participants, the comprehensive return exceeds 300%.

From subscription to the listing date, and then to the final asset lock-in channel of spot selling/retaining holdings, MSX has achieved a closed loop for entering and exiting Pre-IPO participation. 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, MSX's total reserve fund was $79,410,391.21, with a total reserve ratio of 121.08%. The audit algorithm utilized Merkle Tree + zk-SNARKs, and reserve ratios for all asset types exceeded 100%: USDT 106.32%, USDC 110.86%, TSLA.M 123.11%, CRCL.M 119.39%. This means the platform's asset reserves are always higher than the total user holdings at any given time.

From an industry perspective, a platform that possesses trust value and can open up previously high-barrier Pre-IPO projects to ordinary investors in a verifiable manner represents a pioneering embodiment of the on-chain US stock ecosystem.