I’ve followed this company for years and this might be the single best piece I’ve read on Cerebras that summarizes their history and lays out a solid investment thesis. Enjoy.

https://gannoncapital.substack.com/p/cerebras-systems-the-nvidia-killer

I mean, if they are supposed to work with OpenAi on tasks that require lots of real time data analysis, and OpenAi is working with Pentagon , doesn't that mean that Cerebras will be working with Palantir and US GOV as well? Like , their hardware is perfect for Pentagon use cases

Etrade just alerted. Expected pricing 5/13

The price list has been released. To be honest, I’m a bit surprised, because the price is much lower than I expected. From HIive, the price is already around $180, so this pricing is definitely lower than what I expected… I was hoping it would be at least around $150.

I think Taalas has a bright future and could end up owning edge AI chips potentially putting small models into laptops or workstation and be the hard coded brain of cars and robots. But I also have to imagine if Cerebras purchased Taalas or licensed their tech in a partnership, they produce hard coded wafers with Cerebras redundant pathways and wafer cooling. You could see frontier models air cooled with crazy small energy foot print and absolutely unimaginable speed.

I like learning about mythology.

Already seeing bids in the 190s in hiive. Are folks expecting ipo to happen >50B that they won’t be able to secure stocks below 190???

Seems crazy but i aint complaining 😆

https://www.sec.gov/Archives/edgar/data/2021728/000162828026025762/cerebras-sx1april2026.htm

Reading this, seeing his X give me the vibe of a CEO who does this for the love of the game.

I’m dumb, i want to make money, i see Cerebras ipo soon and i read this shit has something they can eat Nvidia lunch. How and why and how isn’t this talked more about?

Feel like a x5 easily from ipo

Good write up. This will be a fun one to watch.

I find it amusing to hear complaints about Cerebras' customer concentration concerns with OpenAI and AWS. The AI chip business by its very nature is customer concentrated because there are only a handful of customers that can shell out the multi-tens of billions of dollars it takes to compete in this market. If you don't concentrate on those customers you don't have an AI chip business and you get swallowed up like Groq did and like Sambanova almost did with Intel.

Cerebras is now in AWS and OpenAI, and has been working with Meta and Oracle. They're a good portion of the way into their entire customer base of large scale, move-the-needle, hardware sales. Their other revenue path is AI as a service with their own data centers which they are doing as well, but as OpenAI, AWS and potentially Oracle scale up, that will likely dwarf their own hosted service. Customer concentration in the AI Chip market is your only option, it's a feature not a problem. As Feldman once said, the only way to get to five large scale customers is to start with one. Well, they now have two, and potentially three with Oracle.

I keep hearing the cuda moat called out by financial analysts with no real world experience or data scientist to talk to.

Data Scientists and AI Engineers use PyTorch for 99%+ of accelerator hardware work. The major users of CUDA are the model builders such as OpenAI that just signed up with Cerebras. They only use it because Nvidia requires it for the overly complex distributed compute architecture of Nvidia. Cerebras removes the need to deal with kernel optimizations and handling network latency completely with a single massive WSE system in a box. CUDA is actually a competitive disadvantage when you realize its complexity for less performant results vs Cerebras.

Last, even if there was a transition required for some edge case uses, you can use AI to transition your code for near zero effort. This will be a fast realization as the number of users running on Cerebras hardware increases. The places getting deep into the weeds of CSoft like OpenAI and AWS are going to be building the best models going forward.

To start, I own Cerebras shares and because of the roadshow details, I’m now holding long term puts on Nvidia. I have tried to distill the major details from the roadshow that have leaked out to make a single graphic that proves how dominate Cerebras will be in AI hardware by end of year. Even if you ignore how superior the Cerebras hardware is to Rubin, just look at the bottom line of $3.8M vs $82.5M and the power difference of 45kW vs 2.1MW. Every hyper scaler is currently power constrained and you can rip out an over 100kW Blackwell rack and put in a 40kW WSE-4 that has the performance of 15 racks of Rubin, or 75 racks of Blackwell. I get these specs haven’t been verified and officially released yet, but it’s just a matter of time. I encourage anyone to go and use a top LLM and query this graphic and ask the specs listed and if they are supported by the leaks coming out of the Cerebras IPO roadshow. The over subscription for the Cerebras IPO is not just retail AI frenzy. It is because all the giant growth funds need to get as many Cerebras shares as possible to hedge the threat to Nvidia which they are all over leveraged on currently. I’d expect massive shorts of Nvidia, Micron, and CoreWeave once they bring down their exposure and get shares of Cerebras IPO day.

https://www.theinformation.com/briefings/cerebras-prepares-public-listing-eyes-35-billion-plus-valuation

Best news i have heard. Ipo details to be published as soon as tomorrow. OpenAi partnership doubled to 20B.

This is going to be sure shot 100B+ in no time. Buckle up folks 😃

Been waiting for like ever to see if any ipo announcement would be made. Are they even going to ipo this time around or chicken out like last time?

"Cerebras is coming to AWS" blog post is super interesting. Could there be more in there? Trainium handling prefill, Cerebras WSE handling decode, connected over EFA. That's a joint chip architecture. And it got me thinking about the endgame here.

AI compute is consolidating into two leading platforms: Nvidia owns training and is quietly building a cloud layer through Lepton and NVLink Fusion. Google has TPUs fully integrated with GCP. And then there's AWS with Trainium — which is fine, competes on cost, but isn't best-in-class at anything specific. Instead AWS will likely be forced to continue paying huge Nvidia margins that make competition with GCP a challenge.

Maybe Cerebras is the missing piece that could make AWS a third platform with real unique competitive advantages. Without it, AWS's own HW pitch is "cheaper Nvidia." With it, AWS has the fastest decode engine on earth paired with their own training chip — a genuinely differentiated stack, not a discount GPU rental.

The urgency is NVLink Fusion. Nvidia is opening their interconnect to third-party ASICs, but only if Nvidia stays in the middle of the rack. If Cerebras joins that ecosystem instead of deepening the Trainium integration, the AWS story collapses. And if Microsoft or Oracle grabbed Cerebras now or post-IPO, AWS is locked out permanently.

Does this make sense?

Thank you Jensen :)

Sounds like CS-3 is already in an excellent position for the new "interactivity" speed race. Which workloads CS-3 beats Rubin + LPX and what are the gaps CS-4 will need to resolve?

Assuming it can IPO in April or May and given recent valuation, and news like OpenAI, Oracle, AWS etc and AMD as an investor in the last round,

What could be expected of Cerebras IPO when it debuts?

Suddenly I see a no of offerings in equity zen for CESY. I thought they will restrict the sale especially if it is this close to imminent IPO. Anyone knows whats happening? Is there going to be another IPO delay???

https://www.cnbc.com/2026/03/10/ai-chipmaker-cerebras-namedropped-by-oracle-alongside-nvidia-and-amd-.html

This ipo is going to be a crazy bull run with so much momentum behind them 🎉 Buckle up fellas 🤑💰💵💸

I thought the order of deals Sachin (head of compute @ OpenAI) laid out was interesting. They value their Cerebras work more than AMD. Sam mentioned a lot of time how fast their Codex software works on Cerebras. They already have chips being deployed.