Cerebras, a US AI chip company that runs inference services through its own data centers, fell nearly 20% this week after research firm SemiAnalysis said on September 30 that OpenAI will use Nvidia GPUs for the “Ultrafast” mode of GPT-6.1 Sol instead of Cerebras hardware.

The drop added to losses since Cerebras’ May initial public offering, leaving the stock down more than half from its post-debut peak.

The move has raised investor concerns about Cerebras’ role in AI inference after its January deal with OpenAI.

Shares also came under pressure after post-initial public offering restrictions expired on 19.4 million insider-held shares. That equals about 8% of shares outstanding.

Filings also show CEO Andrew Feldman and CTO Sean Lie sold more than US$240 million of Class A stock between August 20 and September 25 under trading plans adopted shortly after the IPO.

Cerebras said in January that its OpenAI deal was worth more than US$10 billion and would supply 750 megawatts of compute through 2028.

🔗 Source: CNBC

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