Why Cerebras (CBRS) Stock Is Betting on Amazon and OpenAI — and Not Nvidia

TLDR

• Cerebras CEO Andrew Feldman confirmed at the Bloomberg Tech conference that the company is partnering across the AI infrastructure ecosystem — with everyone except Nvidia.
• The company’s technology is being deployed alongside Amazon Web Services’ in-house chips as part of a deal with Amazon (AMZN).
• Cerebras has also secured a separate supply agreement with OpenAI.
• Feldman described the Amazon and OpenAI deals as coming during a “pretty good 90-day run” ahead of the company’s public listing.
• Cerebras says it combines its own chips with other suppliers’ components to cover different parts of the AI computing stack.

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Cerebras Systems’ (CBRS) CEO Andrew Feldman made headlines Wednesday when he confirmed at the Bloomberg Tech conference in San Francisco that his company is building partnerships across the AI infrastructure space — but has no plans to work with Nvidia (NVDA).

Cerebras Systems Inc., CBRS

The comments drew attention as Nvidia remains the dominant player in AI chips. Cerebras appears to be carving out a lane by working with essentially everyone else in the data center supply chain.

Cerebras has not given specific details on what its stock price movement has been relative to these partnership announcements, but the company’s deals have placed it at the center of the fast-growing AI infrastructure buildout.

The first major partnership on record is with Amazon (AMZN). Under that deal, Cerebras’ chips will be deployed inside Amazon Web Services data centers alongside AWS’s own internally developed silicon. It’s a notable vote of confidence — AWS doesn’t typically open its data centers to outside chip vendors without strong justification.

The OpenAI Factor

The second agreement involves OpenAI. Cerebras has locked in a supply deal with the ChatGPT maker, adding further weight to its position as a credible alternative to Nvidia’s ecosystem.

Feldman described both the Amazon and OpenAI agreements as coming during what he called a “pretty good 90-day run” in the lead-up to the company’s IPO. That timeline suggests both deals closed in quick succession before the company went public — a strong position to list from.

The company’s approach is to mix its own chips with components from other suppliers, depending on what each part of an AI workload requires. This modular strategy appears to be gaining traction with major cloud and AI players.

Where Nvidia Fits In — or Doesn’t

Nvidia was conspicuously absent from Feldman’s partnership list. The CEO’s comments were direct: Cerebras is working with the broader AI hardware community, but Nvidia is not part of that picture, at least for now.

This positions Cerebras as an alternative-ecosystem play within AI infrastructure. Rather than competing head-on, the company is building a web of partnerships that deliberately routes around Nvidia’s products.

Whether that strategy sustains at scale remains to be seen. But the Amazon and OpenAI deals give Cerebras real commercial credibility heading into a period of surging demand for AI compute.

Feldman’s comments at the Bloomberg Tech conference Wednesday represent the clearest public signal yet of where Cerebras draws the line — and where it sees its best opportunities.

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