GoKawiilCerebras shares fall 20% this week amid lockup expiry and OpenAI GPU report
Cerebras Systems' stock closed Friday at $166.43, down nearly 20% for the week and its lowest price since its May IPO. The decline followed a SemiAnalysis report that OpenAI will use Nvidia GPUs, not Cerebras chips, to power the 'Ultrafast' mode of GPT-6.1 Sol, and coincided with the expiration of lockup restrictions freeing up to 19.4 million insider shares, about 8% of shares outstanding.