Tech stocks today: AI chipmaker Cerebras to stage blockbuster IPO, Nvidia's Jensen Huang goes to China

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Updated Mon, May 11, 2026 astatine 5:02 AM CDT 1 min read

Chipmakers got a boost connected Friday, helping to assistance US stocks to grounds highs, aft the Wall Street Journal reported that Apple (AAPL) and Intel (INTC) reached a woody that volition person Intel proviso the iPhone shaper with chips.

Tech stocks whitethorn get different assistance connected Monday, arsenic UAE-based AI chipmaker Cerebras is expected to marque a splashy nationalist debut. The startup counts Amazon (AMZN) and OpenAI (OPAI.PVT) among its customers, and its inital nationalist offering is apt to beryllium the biggest IPO of 2026 truthful far.

In different tech news, respective tech executives, including Nvidia (NVDA) CEO Jensen Huang and Apple (AAPL) CEO Tim Cook, are expected to articulation the US delegation to Beijing. President Trump and Chinese President Xi Jinping are scheduled to conscionable aboriginal this week to sermon trade, the warfare successful Iran, almighty AI models, and more.

Meanwhile, the Elon Musk versus OpenAI (OPAI.PVT) trial, which wrapped up its 2nd week connected Thursday, is acceptable to resume connected Monday.

Musk’s suit against 1 of the world’s astir invaluable backstage companies has provided a fig of details astir the interior workings of OpenAI and the relationships betwixt Musk, his chap co-founders, CEO Sam Altman, and president Greg Brockman, erstwhile main exertion serviceman Mira Murati, and erstwhile committee member, and parent of 4 of Musk’s children, Shivon Zilis.

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Cerebras to rise IPO terms scope to $150-$160 arsenic request surges, sources say

United Arab Emirates-based artificial quality chipmaker Cerebras Systems is acceptable to rise the size and terms of its archetypal nationalist offering amid blistery request for shares of the AI company, according to Reuters.

Reuters reports:

The ‌company is considering a caller IPO terms scope of $150-$160 a share, up from $115-$125 a share, and raising the fig of shares marketed to 30 cardinal from 28 million, said the sources, who asked not to beryllium identified due to the fact that the accusation isn't nationalist yet.
At the apical of the caller range, Cerebras would rise astir $4.8 billion, up from $3.5 cardinal nether its archetypal terms, though the figures stay taxable to alteration earlier pricing, the radical said.
The summation follows a broader ‌surge successful AI adoption that has ⁠driven crisp request for high-performance chips and turned semiconductors into a cardinal bottleneck successful the exertion proviso chain. Cerebras' IPO has drawn orders for much than 20 ⁠times the fig of shares available, the radical said, arsenic the chipmaker looks to negociate surging involvement up of its May 13 pricing.

Read much here.
Everything you request to cognize from the archetypal 2 weeks of the Musk v. OpenAI trial

The proceedings betwixt Tesla (TSLA) CEO Elon Musk and OpenAI (OPAI.PVT) picks backmost up connected Monday.

Musk is seeking damages and a reversal of OpenAI’s modulation to a for-profit.

He contends that OpenAI’s CEO Sam Altman and president Greg Brockman duped him into donating millions of dollars to get the institution disconnected the crushed with the knowing that it would stay a nonprofit. OpenAI, however, says Musk is aggravated that the institution rejected his connection to merge it with Tesla (TSLA) and sanction him CEO of the caller entity.

OpenAI CEO Sam Altman arrives astatine the Ronald V. Dellums Federal Building connected April 30, 2026, successful Oakland, Calif. (Benjamin Fanjoy/Getty Images) · Benjamin Fanjoy via Getty Images

Yahoo Finance’s Daniel Howley recaps the biggest moments truthful acold successful the trial:

OpenAI filed tribunal documents claiming that Musk tried to gauge Brockman’s involvement successful a colony earlier the commencement of the trial. When Brockman suggested some sides driblet their claims against each other, Musk allegedly told Brockman helium would crook him and Altman into “the astir hated men successful America.”
The lawsuit volition determine the aboriginal of OpenAI and whether it volition proceed to run arsenic a for-profit entity oregon revert to a nonprofit structure.
During his grounds this week, Brockman claimed Musk wanted to go CEO of OpenAI due to the fact that helium needed $80 cardinal to physique a metropolis connected Mars.
Brockman besides disclosed that helium holds a astir $30 cardinal involvement successful the AI company, arsenic good arsenic holdings successful different Altman-backed companies.

Read much here.