Cerebras Shares Dip Beneath $185 Initial Offer Price Amid NVIDIA Chip Analysis Claims and Significant Executive Sale Notices
Cerebras Systems Inc. (NASDAQ: CBRS) shares slipped more than 7% to $181 during Wednesday afternoon trading, moving the AI‑chip company below its $185 price point from the May IPO.
The stock moved in response to a widely circulated analysis claiming that NVIDIA would deploy GPT‑6.1 Sol Ultrafast on consumer GPUs rather than Cerebras hardware. OpenAI’s September 29 release indicated Sol Ultrafast is imminent, whereas the GPT‑6 Astra Ultrafast variant has already entered general availability.
OpenAI has not yet publicly clarified whether GPT‑6.1 Sol Ultrafast will run on Cerebras platforms, while earlier announcements linked its predecessor, GPT‑5.6 Sol Ultrafast, to Cerebras chips.
Two Form 144 notices filed shortly after yesterday’s market close disclose proposed shareholder sales totaling roughly $84.3 million by senior executives and other qualified holders. Although these filings outline the intended transactions—such as an August 18 sale of 38,889 shares—no actual sales have occurred yet; pending disposals remain subject to established restrictions.
Mallick and Komin Notices Cover Substantial Share Volume
COO Dhiraj Mallick’s filing covers 396,000 shares valued at approximately $77.9 million with an expected sale timeline around September 29. Within this bundle, 276,000 shares stem from unvested option exercises and 120,000 represent performance stock bonuses.
Mallick also reported an August 18 transacttion involving 38,889 shares that generated about $8.64 million in gross proceeds.
CFO Robert Komin submitted a separate notice outlining 32,500 shares worth roughly $6.39 million, derived from options exercised in August 2024.
Both filings reference a Rule 10b5‑1 trading plan adopted on June 30 2026, which establishes guidelines for the timing of executive and officer sales. The rule‑based schedule predates Wednesday’s sharp decline in share pricing.
Concurrently, the Ondo‑launched tokenized mirror of Cerebras (CBRSon) was priced at $181.17, declining 14.34% year‑to‑date according to CoinMarketCap.
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