Cerebras surged 15% as OpenAI's exclusive compute backbone for GPT-5.6 Sol, backed by a 750-megawatt capacity purchase commitment through 2028. NVIDIA's 13F revealed a $30 billion Intel position representing 47% of its portfolio, with SoftBank holding 67% of its own portfolio in Intel. AMD and Cerebras are combining Helios racks with CS systems to deliver a 5x throughput boost, with availability targeted for Q4 2026.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and AMD didn't make the cut. Grab the names FREE today. Shares of Cerebras Systems (NASDAQ:CBRS) surged roughly 15.3% in morning trading Monday after a Wedbush note tied the AI chip designer more tightly to OpenAI's newest inference tier.
The rebound comes after shares tumbled about 17% on August 13 on a Q2 revenue miss, and it leaves the stock well below its 52-week high of $386.34. According to reporting on a Wedbush Securities note, Cerebras is serving as the exclusive compute backbone for OpenAI's newly launched GPT-5.6 Sol Ultrafast mode, a tier delivering up to 750 output tokens per second, roughly 14 times faster than standard processing, powered by the company's proprietary Wafer-Scale Engine. Reporting on the note also indicated Wedbush raised its price target on Cerebras to $290 from $280 last week.
The infrastructure commitment behind that tier is what changes the math. OpenAI has committed to purchasing 750 megawatts of computing capacity from Cerebras by 2028, which underpins the $25.4 billion in remaining performance obligations Cerebras reported at quarter-end. CEO Andrew Feldman framed the strategic logic on the Q2 call: "The market is realizing that speed is not a benchmark item.
Speed changes user engagement, it changes agentic performance, and it changes AI productivity. Fast inference unlocks new applications and new markets." Powering 750 megawatts of AI compute takes more than silicon: it takes substations, cooling loops, and networking gear that rarely make the headlines (we profiled seven of the suppliers behind exactly that buildout in a free report here: 7 Stocks Powering the AI Boom). Monday's move is also a reassessment of last Wednesday's selloff.
Q2 core revenue came in at $209.9 million, up 103% year over year, with core cloud and services revenue up 287%. Cerebras also raised full-year 2026 core revenue guidance to $880 million to $890 million and reiterated plans to more than triple core revenues in 2027. The headline revenue figure of $180.11 million missed the $193.55 million consensus, but Wedbush and Craig-Hallum maintained bullish ratings after that report.
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