Cerebras stock fell 20% to $166.43. The 3% bounce is not…
By Tobi Opeyemi Amure
AI summary of the source article
Cerebras stock fell 19.5% over the week to finish Friday at $166.43, marking its lowest close since its May 14 IPO. The drop was triggered by a SemiAnalysis report stating OpenAI's GPT6.1 Sol Ultrafast is running on Nvidia GPUs instead of Cerebras hardware, compounded by the unlock of up to 19.4 million shares on Sept. 30. Following Friday's close, OpenAI CEO Sam Altman stated that Cerebras remains a close partner with deep engagement on speed frontiers, driving an extended-hours bounce of nearly 3%. However, Altman's statement did not address specific workloads or the status of their 750-megawatt deployment agreement.
Key facts
- Cerebras shares dropped 19.5% from the prior Friday to hit a post-IPO record low close of $166.43.
- SemiAnalysis reported that OpenAI's GPT6.1 Sol Ultrafast is running on Nvidia GPUs rather than Cerebras systems.
- Up to 19.4 million shares unlocked on Sept. 30, with additional unlocks scheduled for Oct. 14 and Oct. 28.