Welcome to the closing bell. I'm Scott Wobner, live from Post 9 here at the New York Stock Exchange.

This make-a-break hour begins with a surging IPO today. Cerebrus taking center stage, more evidence of just how hot the AI trade truly is.

We'll have the latest on trading in just a moment, but that picture tells a story, doesn't it?

We'll have more, as I said, coming up. There's another story today. The scorecard with 60 to go in regulation, Dow sitting back

above 50,000 S&P, back above 7,500, new records there, new records for the NASDAQ, which is up

nearly 1%. Invitya hitting a new high today as well. CEO Jensen Wong is in China with President Trump,

a lot of optimism around that name with less than a week to go now until that big earnings report.

We can't wait for that, but let's get right to our talk of the tape.

The Cerebrus IPO, what it might say about the current state of the AI craze on Wall Street.

We'll begin at the NASDAQ and our Christina Parts of Nevelos,

who's been watching this big story all day long.

Tell us.

And it says that there is appetite in the market,

and people want a piece of this AI pie.

Cerebus opening at $350,000 nearly double.

It's 185 IPO price.

The stock, as you said, trading around 317 right now, really giving the company a market cap of roughly a little bit over $70 billion. Keep in mind, they made $510 million in 2025 revenue. Million, yes. Before the open, just to give you context as to how much demand, there's 45 buyers for every one seller.

And those that are wondering, is this a pure chip company? They do make a chip the size of,

let's say, a dinner plate with memory built directly onto the silicon, reducing the cost per token,

which is really how AI compute is price. But it also, beyond just selling the chip, it sells

the full system and also runs its own cloud, which means it would compete with, you know, the likes of Corwee, for example. I did ask a Sterebus executive just about the concern about customer concentration. And the answer that I got was that they're catering to three buckets. You have the lab bucket, which would be Open AI and their $20 billion deal they signed in January, the

nation's bucket, which would be the UAE right now in that business, and then the cloud bucket,

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