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Image accompanying Investing.com report on Cerebras shares and OpenAI's Nvidia-powered Ultrafast tier
Photo: Reuters via Investing.com

Cerebras Stock Jumps 9% After Altman Calls It Close Partner

CNBC2 min read7 sources

Why did Cerebras stock jump 9%?

Cerebras (CBRS) stock rose about 9% on Monday to $181.55 after OpenAI CEO Sam Altman called the chipmaker a "close partner" in a post on X, easing fears after last week's 20% drop.

Key numbers

Close Oct 5$181.55+9.1%
Close Oct 2$166.43-19.5% on week
IPO price (May 14)$185Shares still below
Market cap (Oct 2)~$39.6B~$95B post-IPO peak
OpenAI deal$10B750 MW through 2028
Lockup shares freed Sep 3019.4MTwo more waves due

What happened

Cerebras (CBRS) stock rose about 9% on Monday to $181.55 after OpenAI CEO Sam Altman called the chipmaker a "close partner" in a post on X, easing fears after last week's 20% drop. Last week, research firm SemiAnalysis said OpenAI's new ultrafast mode for GPT-6.1 Sol runs on Nvidia chips, not Cerebras chips, and the stock fell to $166.43. Altman wrote that the two firms have "a deep engagement pushing on the frontiers of speed". They signed a $10 billion deal in January.

Why it matters

Cerebras makes specialty AI chips and relies heavily on OpenAI as a customer, so news about that relationship can move its shares fast. The stock is still below its $185 price at its May stock-market debut (IPO). More early investors can also sell their shares (a lockup expiry) on Oct. 14 and Oct. 28, which can add selling pressure.

Who this affects

Marketmixed
Medium impact
AI chip investors saw a sharp drop, then a partial rebound.
Companybullish
Medium impact
Cerebras shareholders get relief, but shares remain below the IPO price.
Competitorsmixed
Low impact
Nvidia keeps a role in OpenAI's ultrafast mode, a plus for it.
Industryneutral
Medium impact
OpenAI appears to use more than one chip supplier for speed.

Cerebras vs Nvidia, AMD

CerebrasCBRS$39.6B (Oct 2)+9.1%
NvidiaNVDA$5.77T+2.1%
AMDAMD$1.03T—

As of 2026-10-05

How we got here

  1. Cerebras goes public at $185 per share.

  2. SemiAnalysis says OpenAI's GPT-6.1 Sol Ultrafast runs on Nvidia GPUs.

  3. First lockup expiry frees 19.4 million shares; Cerebras stock slides.

  4. Cerebras closes at $166.43, down about 20% on the week.

  5. Cerebras closes up about 9% at $181.55 after Altman's comment.

What to watch

  • Second lockup expiry lets more early Cerebras shareholders sell stock.2026-10-14
  • Third lockup expiry, among three waves freeing about 58 million shares.2026-10-28

Educational content only. Not investment advice.

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