Cerebras stock falls nearly 20% after Nvidia to power OpenAI model
Cerebras Systems shares dropped almost 20% this week, hitting their lowest price since the May IPO, after a report that Nvidia will supply GPUs for OpenAI's new GPT-6.1 Sol model.
Key points
- Cerebras stock down nearly 20% after Nvidia to power OpenAI GPT-6.1 Sol.
- Post-IPO lock-up expiration unlocked 19.4 million shares, 8% of outstanding.
- Cerebras had a $10 billion deal with OpenAI to supply 750 MW of compute through 2028.
The decline follows the expiration of post-IPO lock-up periods that unlocked up to 19.4 million shares, and the loss of a $10 billion deal that had Cerebras supplying 750 MW of compute to OpenAI. The company's market cap fell from $95 billion on day one to just over $39 billion.
Model page: GPT-6.1 Sol →
The story so far
2 episodes →- Cerebras stock falls nearly 20% after Nvidia to power OpenAI modelthis story
Cerebras stock hits post-IPO low, tumbling 20% for the week on Nvidia pressure and lockup expiration
CNBC Technology · 2 October 2026
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