Episode Details

Cerebras Systems just raised its IPO price range to $150-$160 a share, twenty times oversubscribed, making it the biggest global IPO of 2026 at up to $4.8 billion. We break down what Cerebras actually does, why it matters for the shift from AI training to inference, and how it went from nearly being killed by a regulatory review in 2024 to having OpenAI as its biggest customer. Plus: Nvidia quietly became a $40 billion venture fund, and why Google owning the AI stack matters for tomorrow's Trump-Xi summit.