Cerebras Shares Recover After Sam Altman Reaffirms Partnership

Cerebras Systems Inc. saw its stock rise 6.3% in pre-market trading at $177 per share on Friday, after OpenAI CEO Sam Altman posted on X that “Cerebras is a close partner.” The rebound followed a 20% drop the previous week when reports indicated OpenAI would run its “Ultrafast” mode for GPT-6.1 Sol on Nvidia GPUs rather than Cerebras chips.

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Cerebras debuted on the Nasdaq in a “monster” IPO on May 14, 2026, with a market-cap peak of about $95 billion. The company markets the Wafer Scale Engine 3, a large chip designed to accelerate AI models faster than conventional GPUs. In January, Cerebras signed a $10 billion agreement with OpenAI to provide 750 megawatts of computing power through 2028.

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• Pre-market price: $177 per share, up 6.3% (down nearly half from the post-IPO high).

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• Extended-hours gain on Friday: ~3%.

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• Current market cap: just over $39 billion, versus $95 billion at debut.

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• Stock fell 20% last week after the Nvidia-GPU revelation.

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They added that the stock’s upside is increasingly tied to evidence of gross-margin stabilization.

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The brief rally suggests investor confidence can be swayed by executive reassurance, even as the broader market remains skeptical about Cerebras’ ability to displace Nvidia in high-performance AI workloads. Analysts highlight that sustained margin improvement and clear evidence of OpenAI’s reliance on Cerebras hardware will be critical for the company to recover its earlier valuation.

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