Cerebras Jumps 6.3% to $177 as Altman Reaffirms $10 Billion OpenAI Partnership
Updated
Updated · CNBC · Oct 5
Cerebras Jumps 6.3% to $177 as Altman Reaffirms $10 Billion OpenAI Partnership
1 articles · Updated · CNBC · Oct 5
Summary
Cerebras rose 6.3% to $177 in premarket trading Monday, extending a roughly 3% after-hours gain from Friday after OpenAI CEO Sam Altman called the company a “close partner.”
Altman’s post answered investor concern after Cerebras shares sank 20% last week when OpenAI disclosed GPT-6.1 Sol’s “Ultrafast” mode would run on Nvidia GPUs rather than Cerebras chips.
Citi said its 2026-2028 revenue view for Cerebras is unchanged, arguing frontier AI models often launch first on internal chips before shifting to third-party or Cerebras cloud infrastructure.
The rebound only partly repairs the damage: Cerebras is still down nearly half from its post-IPO peak, with market value just above $39 billion versus $95 billion at its May debut.
Analysts said the stock’s next leg will depend less on partnership headlines than on proof gross margins are stabilizing, given Cerebras’ premium valuation.