Cerebras Shares Dipped Amid Nvidia Exclusion Plans
Cerebras Systems' shares dipped nearly 1% in premarket trading on Thursday, extending their downward trend since the company's market debut last month. The decline comes as CEO Andrew Feldman confirmed that Cerebras is working with multiple players that supply components for data centers, excluding Nvidia.
Feldman made the comment while speaking at the Bloomberg Tech conference in San Francisco, where he indicated plans to cooperate with a wide variety of suppliers, potentially leading to further partnerships. This comes as Amazon has already partnered with Cerebras, using its chips alongside its own in AWS data centers.
The maker of wafer-scale processors has faced a downward trend since listing on the Nasdaq Global Select Market on May 14, when it gained 68% over its IPO price. The stock is now down 31% from its opening day closing price, contrasting gains in the broader semiconductor market sector.