Cerebras stock climbs 6% after Sam Altman calls the chipmaker a 'close partner'

Cerebras stock climbed in premarket trading Monday, rebounding from last week's decline, after OpenAI's CEO Sam Altman reassured investors that the firm is a "close partner." The AI hardware firm, which made its debut on the Nasdaq in a monster IPO in May, saw its stock plummet 20% to its lowest price last week after it was revealed that OpenAI would power its "Ultrafast" mode for GPT-6.1 Sol with Nvidia's graphics processing units instead of Cerebras' chips. "There is some speculation about our partnership with Cerebras," Altman said in a post on X on Friday. "Cerebras is a close partner, and we have a deep engagement pushing on the frontiers of speed." The company's stock rose almost 3% in extended trading on Friday following Altman's comments.