Cerebras rebounds ~8% Monday after Sam Altman calls chipmaker a 'close partner'
What happened
Cerebras Systems (CBRS) shares gained 7.7-8.6% to about $179 in early trading Monday, rebounding after OpenAI CEO Sam Altman posted on X late Friday that 'Cerebras is a close partner, and we have a deep engagement pushing on the frontiers of speed.' The endorsement settles nerves about the AI hardware firm losing out to Nvidia in powering high-speed versions of OpenAI's models. Altman's comments suggest Cerebras is still likely to be involved in powering OpenAI's Ultrafast inference mode in the future, possibly once it can ramp up chip production. Separately, Freedom Capital Markets upgraded Cerebras to Buy from Hold on Friday, arguing the selloff had gone too far.
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Start your free 14-day trialWho’s affected
- CBRS — up 7.7-8.6% in early trading Monday (~$179), rebounding from a 15-19% slide over the prior five sessions
- NVDA — the counterpoint: SemiAnalysis said OpenAI's Ultrafast inference runs on Nvidia GPUs, and the debate over whether Cerebras can displace Nvidia in OpenAI's stack continues