Topline
Cerebras shares rose over 8% on Monday after OpenAI CEO Sam Altman said the chipmaker is a “close partner,” helping reverse some of last week’s 20% selloff after it was reported that Nvidia would power OpenAI’s GPT-6.1 Sol.
INDIA – 2026/05/13: In this photo illustration, a Cerebras logo is seen displayed on a smartphone with an Open AI logo in the background. (Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images)
SOPA Images/LightRocket via Getty Images
Key Facts
Cerebras stock was up 8.3% as of 1:35 p.m. EDT, trading at $180.23, still under its $185 initial public offering price, which it fell below last week.
The rise comes after the chipmaker’s shares fell 20% last week, closing at $166.43 on Friday after SemiAnalysis reported OpenAI’s GPT-6.1 Sol is running on Nvidia’s graphics processing units instead of Cerebras’ hardware.
Altman in a Friday night X post said there’s “some speculation” about OpenAI’s partnership with Cerebras, adding it’s “a close partner, and we have a deep engagement pushing on the frontiers of speed.”
Cerebras shares rose around 3% in after-hours trading on Friday following Altman’s post.
KEY BACKGROUND
Cerebras went public in May, pricing 30 million shares at $185 and raising $5.5 billion at a fully diluted valuation of $56.4 billion. The stock opened at $350 and finished its first trading day at $311.07, 68% up from the IPO price. Before it went public, the company had already struck its deal with OpenAI, and partnered with Amazon in March to deploy processors inside its data centers in a deal valued at $23.1 billion.
WHAT WE DON’T KNOW
Altman’s X post didn’t explicitly address or confirm if Nvidia is powering GPT-6.1 Sol. Nvidia’s X account did reply to SemiAnalysis’ report with an eyes emoji.
FURTHER READING
AI Chipmaker Cerebras’ CEO Is Now Worth $3.4 Billion After Long-Awaited IPO (Forbes)
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