Tech shares at the moment: Chipmaker Cerebras to stage blockbuster IPO, AI in focus for Trump-Xi assembly

Posted by techforbes May 11, 2026


Tech shares began the buying and selling week combined on Monday, after chipmakers got a boost on Friday on a Wall Avenue Journal report that Apple (AAPL) and Intel (INTC) reached a deal that may have Intel provide the iPhone maker with chips.

UAE-based AI chipmaker Cerebras is predicted to make a splashy public debut. The corporate filed paperwork Monday growing its preliminary public providing to 30 million shares with the objective of elevating as much as $4.8 billion, Bloomberg reported. The startup counts Amazon (AMZN) and OpenAI (OPAI.PVT) amongst its clients, and its inital public providing is more likely to be the most important IPO of 2026 up to now.

In different tech information, Tesla (TSLA) CEO Elon Musk and Apple CEO Tim Prepare dinner had been invited to hitch the US delegation to Beijing, based on Bloomberg. President Trump and Chinese language President Xi Jinping are scheduled to fulfill later this week to debate commerce, the battle in Iran, highly effective AI fashions, and extra.

In the meantime, the Elon Musk versus OpenAI (OPAI.PVT) trial, has entered its third week. Microsoft (MSFT) CEO Satya Nadella took the stand on Monday, outlining Microsoft’s relationship with the AI startup, and famous that he was by no means given readability about why CEO Sam Altman was fired from the corporate in Nov. 2023.

Musk’s lawsuit towards one of many world’s most dear non-public corporations has offered numerous particulars concerning the internal workings of OpenAI and the relationships between Musk, his fellow co-founders, Altman, and president Greg Brockman, former chief expertise officer Mira Murati, and former board member, and mom of 4 of Musk’s youngsters, Shivon Zilis.

LIVE 7 updates

  • Daniel Howley

    Microsoft’s Satya Nadella was by no means given ‘readability’ about why OpenAI’s board fired Sam Altman

    Microsoft (MSFT) CEO Satya Nadella took the stand in US District Courtroom in Oakland, Calif., on Monday as a part of Elon Musk’s ongoing lawsuit against OpenAI (OPAI.PVT).

    Nadella testified about his relationship with Musk, Microsoft’s work with OpenAI, and questions on how the businesses’ tie-up has benefited Microsoft.

    Microsoft CEO Satya Nadella enters a U.S. federal courthouse as the trial in Elon Musk's lawsuit over OpenAI's for-profit conversion continues, in Oakland, California, U.S., May 11, 2026. REUTERS/Manuel Orbegozo
    Microsoft CEO Satya Nadella enters a U.S. federal courthouse because the trial in Elon Musk’s lawsuit over OpenAI’s for-profit conversion continues, in Oakland, California, U.S., Could 11, 2026. REUTERS/Manuel Orbegozo · REUTERS / REUTERS

    The CEO additionally responded to questions on OpenAI’s temporary ouster of CEO Sam Altman in November 2023.

    Microsoft has been considered one of OpenAI’s largest backers, investing billions of {dollars} within the firm in alternate for utilizing its expertise throughout Microsoft’s merchandise.

    Throughout his testimony, Nadella mentioned that, regardless of asking for a motive for OpenAI’s firing of Altman, he was by no means given a full clarification for the transfer. The CEO additionally mentioned he wasn’t made conscious of the choice to terminate Altman prematurely, however was as an alternative pulled out of a gathering and knowledgeable of the transfer.

    Read more here.

  • Pras Subramanian

    Rocket Lab inventory jumps for second day as SpaceX IPO looms

    Rocket Lab (RKLB) inventory prolonged its surge for a second consecutive buying and selling day on Monday, as buyers proceed shopping for following the corporate’s robust quarterly report – and with a SpaceX (SPAX.PVT) IPO on the horizon.

    Rocket Lab shares rocketed 30% on Friday on the again of robust first quarter outcomes launched after the shut on Could seventh. Monday’s session carried that momentum ahead, with shares leaping one other 12%, hitting a brand new all-time excessive.

    With at the moment’s transfer, Rocket Lab is up an eye-popping 70% yr thus far.

    Q1 outcomes got here alongside the backdrop of a flurry of recent offers. CEO Peter Beck mentioned Rocket Lab booked 31 Electron and HASTE rocket missions in the course of the quarter — probably the most ever signed in a single quarter — and the corporate now has greater than 70 launches in backlog throughout these applications.

    Read more here.

  • Daniel Howley

    Intel CEO touts ‘thrilling new merchandise’ with Nvidia

    Intel (INTC) inventory rose on Monday, a day after CEO Lip-Bu Tan posted on X that the corporate and Nvidia (NVDA) are working to “develop thrilling new merchandise.”

    Tan initially wrote the publish to congratulate Nvidia CEO Jensen Huang on receiving an honorary doctoral diploma in science and expertise from Carnegie Mellon College on Sunday. Tan draped the doctoral hood over Huang.

    Intel inventory was up greater than 2% in early buying and selling. The chipmaker’s inventory worth has rocketed greater than 245% yr thus far and 494% over the past 12 months.

    In September, the corporate and Nvidia introduced they’re collaborating on merchandise for knowledge facilities, together with the flexibility to attach Nvidia’s GPUs to Intel’s CPUs for AI workloads.

    The businesses are additionally teaming as much as produce Intel chips for client PCs that combine Nvidia’s RTX GPU chiplets into Intel’s system-on-a-chip.

    Read more here.

  • Nvidia hits all-time intraday excessive

    Nvidia (NVDA) inventory jumped 2.8% on Monday, hitting an all-time excessive as chip shares resumed their rally from Friday.

    The world’s largest firm had a market cap of $5.3 trillion. On Monday, Reuters reported that Nvidia CEO Jensen Huang ​is just not becoming a member of President Trump’s journey ‌to China this week.

    A number of different chip shares — Micron Know-how (MU), Intel (INTC), and Qualcomm (QCOM) — opened at report highs this morning. Semiconductor names have been using a momentum wave in current periods, as reminiscence chips show to be the newest catalyst within the synthetic intelligence growth.

  • AI communication with China in focus as Trump heads to Beijing

    When President Trump meets with Chinese language President Xi Jinping this week in China, synthetic intelligence will likely be a key agenda merchandise.

    My colleague Ben Werschkul studies:

    One other key query: whether or not the US and China use this journey to launch official talks on AI guardrails, as the Wall Street Journal recently reported, amid fears that AI might turn into an arms race within the digital period.

    A prime US expertise official just lately accused China of “industrial-scale distillation campaigns to steal American AI.” Trump officers reiterated over the weekend that that is an energetic space of concern, however it stays removed from sure what the journey will yield.

    The US official mentioned AI would probably be a subject of debate however that China’s report on cybersecurity damaged guarantees means there’s “not plenty of confidence in something that will be unenforceable and unverifiable.”

    However any progress on this space, even the prosaic institution of extra formal communication channels, could possibly be a big growth, the Brookings Institution recently noted.

    “America and China hardly speak about AI, at the least on the official degree,” the evaluation famous, calling any new communication channels “an important first step towards addressing an more and more high-stakes concern.”

    Read more here.

  • Cerebras to lift IPO worth vary to $150-$160 as demand surges, sources say​​​​​​​​​​​​​​​​

    United Arab Emirates-based synthetic intelligence chipmaker Cerebras Methods is ready to lift the dimensions and worth of its preliminary public providing amid scorching demand for shares of the AI firm, based on Reuters.

    Reuters studies:

    The ‌firm is contemplating a brand new IPO worth vary of $150-$160 a share, up from $115-$125 a share, and elevating the variety of shares ​marketed to 30 million from 28 million, mentioned the sources, who requested to not be recognized as a result of the data is not public but.

    On the prime of the brand new vary, Cerebras would increase roughly $4.8 billion, up from $3.5 billion below its unique phrases, although the figures stay topic to vary earlier than pricing, the folks mentioned.

    The rise follows a broader ‌surge in AI adoption that has ⁠pushed sharp demand for high-performance chips and turned semiconductors right into a key bottleneck within the expertise provide chain. Cerebras’ IPO has drawn orders for greater than 20 ⁠instances the variety of shares out there, the folks mentioned, because the chipmaker appears to handle surging curiosity forward of its Could 13 pricing.

    Read more here.

  • Every little thing you want to know from the primary 2 weeks of the Musk v. OpenAI trial

    The trial between Tesla (TSLA) CEO Elon Musk and OpenAI (OPAI.PVT) picks again up on Monday.

    Musk is in search of damages and a reversal of OpenAI’s transition to a for-profit.

    He contends that OpenAI’s CEO Sam Altman and president Greg Brockman duped him into donating hundreds of thousands of {dollars} to get the corporate off the bottom with the understanding that it could stay a nonprofit. OpenAI, nonetheless, says Musk is offended that the corporate rejected his provide to merge it with Tesla (TSLA) and title him CEO of the brand new entity.

    OAKLAND, CALIFORNIA - APRIL 30: OpenAI CEO Sam Altman arrives to court at the Ronald V. Dellums Federal Building on April 30, 2026 in Oakland, California. Elon Musk invested in OpenAI early on believing it would be a non-profit, but is now suing OpenAI and its CEO Sam Altman for allegedly deceiving him by developing OpenAI into a for-profit company. (Photo by Benjamin Fanjoy/Getty Images)
    OpenAI CEO Sam Altman arrives on the Ronald V. Dellums Federal Constructing on April 30, 2026, in Oakland, Calif. (Benjamin Fanjoy/Getty Photos) · Benjamin Fanjoy by way of Getty Photos

    Yahoo Finance’s Daniel Howley recaps the most important moments up to now within the trial:

    OpenAI filed courtroom paperwork claiming that Musk tried to gauge Brockman’s curiosity in a settlement earlier than the beginning of the trial. When Brockman steered either side drop their claims towards one another, Musk allegedly informed Brockman he would flip him and Altman into “the most hated men in America.”

    The case will resolve the way forward for OpenAI and whether or not it is going to proceed to function as a for-profit entity or revert to a nonprofit construction.

    Throughout his testimony this week, Brockman claimed Musk wished to turn into CEO of OpenAI as a result of he wanted $80 billion to build a city on Mars.

    Brockman additionally disclosed that he holds a roughly $30 billion stake in the AI company, in addition to holdings in different Altman-backed corporations.

    Read more here.