Cerebras Stock Rebounds 6% Following Sam Altman's Partnership Reassurance
· Business · CNBC, Barron's
Cerebras stock climbed 6.3% in premarket trading to $177 per share, recovering from last week's sharp decline. The rebound follows statements from OpenAI CEO Sam Altman confirming that Cerebras remains a close partner. OpenAI recently announced it would power its GPT-6.1 Sol model using Nvidia graphics processing units instead of Cerebras chips, which had previously caused Cerebras shares to plummet 20%. Altman stated on X that the two companies maintain a deep engagement focused on speed. Market capitalization for Cerebras currently stands at just over $39 billion, down from its $95 billion debut following its May initial public offering on the Nasdaq.
Why it matters
The public backing from OpenAI stabilizes investor confidence in Cerebras amid intense competition in the AI hardware market.
Read the original report — CNBC
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.