OpenAI backs Cerebras as the Nvidia challenger targets a $35B IPO valuation

OpenAI砸200亿美元买单，英伟达挑战者冲刺350亿美元估值IPO

Cerebras raised its IPO price range to $150-$160 per share, targeting about a $35 billion valuation at the top end, after OpenAI signed a 750-megawatt AI compute purchase agreement with deliveries through 2028.

Why it matters: HKR-H/K/R all pass: this is not a routine IPO note, since OpenAI’s 750MW purchase agreement anchors Cerebras at a reported $35B valuation and feeds the NVIDIA-alternative compute story.