Cerebras Shares Dip 1% Premarket, Extend 31% Pullback, CEO Excludes Nvidia
CBRS•Cerebras shares slipped 1% premarket Thursday, extending a 31% decline since its Nasdaq debut. CEO Andrew Feldman said Cerebras is collaborating with all AI component suppliers except Nvidia, leveraging deals with AWS and OpenAI.
1. Stock Performance Decline
Cerebras shares fell nearly 1% in premarket trading Thursday, extending a decline to 31% below their May 14 closing price. This contrasts with gains in the broader semiconductor sector.
2. CEO Excludes Nvidia, Expands Supplier Base
CEO Andrew Feldman said the company is collaborating with all AI component suppliers except Nvidia, aiming to diversify its supply chain and mirror its agreement structure with major partners.
3. Key Partnerships with AWS and OpenAI
Cerebras’ wafer-scale processors are already deployed alongside Amazon’s chips in AWS data centers, and the company maintains a similar integration agreement with OpenAI to accelerate AI model training.
4. ARK Accumulation and Retail Sentiment
ARK Investment has invested $47.65 million in CBRS across two tranches, while retail investor sentiment turned bearish this week, signaling cooling enthusiasm post-IPO.
