Cerebras IPO spikes as Figma earnings lift shares amid broader market slide

AI‑focused companies dominated market headlines on May 15. Cerebras Systems surged on its initial public offering, with its wafer‑scale AI chip stock soaring so sharply that trading was temporarily halted. At the same time, design platform Figma saw its shares jump after reporting revenue and earnings that beat expectations, underscoring continued corporate spending on AI‑enhanced software.

Despite these gains, equity markets fell overall. The Canadian TSX dropped 1.13%, the U.S. Dow fell 1.07% after briefly touching 50,000, and the Nasdaq slipped 1.92%. The UK FTSE 100 also declined 1.70%. Commodity prices moved lower, with copper down 4.5% and gold down nearly 3%, while oil rose modestly. Bitcoin, priced in Canadian dollars, retreated 2.2% as speculative AI‑driven risk appetite cooled.