After Sam Altman refers to the chipmaker as a «close partner,» Cerebras shares increase 8%
After OpenAI CEO Sam Altman referred to the chipmaker as a «close partner,» Cerebras shares increased more than 8% on Monday. Partially reversing the 20% sell-off that occurred last week in response to rumors that Nvidia would power OpenAI’s GPT-6.1 Sol.
As of 1:35 p.m. EDT, Cerebras shares had increased 8.3% to $180.23, remaining below their IPO price of $185, which they had fallen below the previous week.
The chipmaker’s shares fell 20% last week, ending at $166.43 on Friday, when SemiAnalysis revealed that OpenAI’s GPT-6.1 Sol uses Nvidia graphics processing units instead of Cerebras hardware. After OpenAI CEO Sam Altman referred to the chipmaker as a «close partner,» Cerebras shares increased more than 8% on Monday, partially reversing the 20% sell-off that occurred last week in response to rumors that Nvidia would power OpenAI’s GPT-6.1 Sol.
As of 1:35 p.m. EDT, Cerebras shares had increased 8.3% to $180.23, remaining below their IPO price of $185, which they had fallen below the previous week.
The chipmaker’s shares fell 20% last week, ending at $166.43 on Friday, when SemiAnalysis revealed that OpenAI’s GPT-6.1 Sol uses Nvidia graphics processing units instead of Cerebras hardware.
Cerebras shares rose about 3% in after-hours trading on Friday following Altman’s post.
OpenAi and Cerebras agreement
OpenAI reportedly agreed in April to pay Cerebras more than $20 billion over the next three years to use servers powered by its chips. Following an initial agreement to purchase 750 megawatts of computing capacity from Cerebras in a deal valued at over $10 billion. Cerebras went public in May, pricing 30 million shares at $185 and raising $5.5 billion, resulting in a fully diluted valuation of $56.4 billion. The stock opened at $350 and closed its first day of trading at $311.07, up 68% from the IPO price. Prior to going public, the company had already finalized its deal with OpenAI and partnered with Amazon in March to deploy processors within its data centers in an agreement valued at $23.1 billion.
Altman’s post on X did not explicitly address or confirm whether Nvidia is powering GPT-6.1 Sol. Nvidia’s X account did, however, respond to the SemiAnalysis report with an «eyes» emoji.
