OpenAI's GPT-6.1 Ultrafast Tier Reportedly Drops Cerebras for Nvidia; Altman Calls Chipmaker 'Close Partner'
CBRS is trading near its 52-week low of $152.44 (0.3% above the low).
Summary
Cerebras shares whipsawed after a SemiAnalysis report claimed OpenAI's newest GPT-6.1 Sol Ultrafast tier runs on Nvidia GPUs, not Cerebras hardware. The stock fell below its $185 IPO price to $166.43 on Sept 30, then rebounded about 9% on Oct 5 after Sam Altman posted that Cerebras is a 'close partner' with 'deep engagement.' Barclays analyst Tom O'Malley added that the relationship 'remains strong.' Neither company has confirmed which chips power the new tier. This follows Cerebras' Q2 revenue miss and insider selling, and the stock now trades near its 52-week low of $152.44.
At the time of this announcement, CBRS was trading at $152.89 on NASDAQ in the Technology sector, with a market capitalization of approximately $34.2B. The 52-week trading range was $152.44 to $386.34. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Benzinga.