- Retail traders speculate that Cerebras’ steep stock decline could create a buying opportunity for SpaceX CEO Elon Musk.
- Newly published OpenAI emails from 2017 reveal discussions about acquiring Cerebras through Tesla.
- OpenAI accounts for a significant portion of Cerebras’ $25.4 billion contracted revenue backlog.
Shares of Space Exploration Technologies Corp. (SPCX) edged 0.1% lower premarket on Monday as retail traders speculated that Cerebras Systems’ steep selloff could give CEO Elon Musk an opening to buy the AI chipmaker.
SPCX stock rose 1.9% on Friday to close at $147.49, while Cerebras (CBRS) gained 1.7% to $110.82. CBRS stock is about 40% below its $185 IPO price and 71% below its $386.34 debut-day peak.
On Stocktwits, SPCX sentiment was ‘extremely bullish’ amid ‘extremely high’ message volume. A user asked, “Is a deal with $SPCX SpaceXAI imminent?”
The chatter follows Musk’s statement on Sunday that SpaceX had closed $40 billion in GPU financing. He separately ruled out buying neocloud companies, which rent AI computing capacity.
His Cerebras connection dates to OpenAI’s early years. In a September 2017 email published by OpenAI, co-founder Ilya Sutskever discussed a possible acquisition through Tesla. “In the event we decide to buy Cerebras, my strong sense is that it’ll be done through Tesla,” Sutskever said.
A July 2017 email from Shivon Zilis also discussed Cerebras in OpenAI’s hardware plans, according to a trial-exhibit index.
Cerebras’ slide has coincided with scrutiny of its OpenAI relationship. SemiAnalysis reported that OpenAI’s GPT-6.1 Sol Ultrafast tier ran on NVIDIA GPUs, before clarifying that Cerebras was sold out.
“Cerebras is a close partner, and we have a deep engagement pushing on the frontiers of speed,” Altman said earlier this month. Cerebras CEO Andrew Feldman later attributed OpenAI’s Nvidia use partly to limited Cerebras data-center capacity.
OpenAI has committed to purchasing 750 megawatts of inference capacity and accounts for a significant portion of Cerebras’ $25.4 billion in contracted revenue yet to be recognized. While SPCX stock has declined 8% year-to-date, CBRS stock plunged 64% over the same period.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
