$OPENAI
Cerebras stock dropped ~20% because a report said OpenAI is using Nvidia chips for some of its new AI service, instead of Cerebras.
This does NOT mean OpenAI has cancelled its Cerebras deal.
OpenAI still has a large agreement with Cerebras.
Cerebras also recently announced a new deal with Gimlet Labs, so business activity continues.
The stock is falling mainly because investors are worried that OpenAI may use less Cerebras hardware than expected.
Simple takeaway:
👉 Bad news = uncertainty about OpenAI's usage.
👉 Not confirmed = cancellation of the OpenAI deal.
👉 Next important update = clarification from OpenAI/Cerebras about how much computing will actually go to Cerebras.#CerebrasSinksNearly20%OnReportNvidiaToPowerOpenAI
Cerebras stock dropped ~20% because a report said OpenAI is using Nvidia chips for some of its new AI service, instead of Cerebras.
This does NOT mean OpenAI has cancelled its Cerebras deal.
OpenAI still has a large agreement with Cerebras.
Cerebras also recently announced a new deal with Gimlet Labs, so business activity continues.
The stock is falling mainly because investors are worried that OpenAI may use less Cerebras hardware than expected.
Simple takeaway:
👉 Bad news = uncertainty about OpenAI's usage.
👉 Not confirmed = cancellation of the OpenAI deal.
👉 Next important update = clarification from OpenAI/Cerebras about how much computing will actually go to Cerebras.#CerebrasSinksNearly20%OnReportNvidiaToPowerOpenAI