Cerebras Stock Rises After Sam Altman Affirms Partnership Amid AI Model Shift
Cerebras stock climbed nearly 6% in premarket trading after OpenAI CEO Sam Altman reaffirmed the partnership between his company and Cerebras. The move follows a significant drop last week when it was revealed that OpenAI would use Nvidia GPUs for its latest GPT-6.1 Sol model instead of Cerebras' chips, causing investor concern. Cerebras had launched with high expectations in May 2026 but has since seen its stock fall by nearly half from the post-IPO peak and a drop in market cap to $39 billion from over $95 billion. Altman's comments on X helped stabilize sentiment, leading to gains both after hours last week and again Monday morning. Citi analysts remain optimistic about Cerebras' long-term revenue outlook but emphasized that the company’s performance will depend heavily on stabilizing gross margins.
Topics: AI hardware partnership Cerebras IPO performance Nvidia OpenAI