Cerebras just priced its IPO at $48.8 billion, selling 30 million shares at $160. Polymarket is pricing a $50B+ first-day close at 91%. The S-1 says 86% of 2025 revenue came from two institutions in Abu Dhabi. MBZUAI was 62%. G42 was 24%. Total 2025 revenue: $510 million. The valuation implies 96x trailing sales. For reference: Nvidia trades around 25x forward sales. Palantir around 45x. Astera Labs around 35x. Cerebras gets twice the Palantir multiple before it's traded a single public…