---
title: "Cerebras hits a new low days before insiders can sell"
description: "The bigger test comes with the third-quarter report, which lands alongside an unlock of up to 171.1 million shares."
publisher: "The Inference"
section: "Money"
published: 2026-10-12T18:48:31.066Z
modified: 2026-10-12T19:28:57.545Z
canonical: https://theinference.org/article/altman-s-17-words-lifted-cerebras-9-the-lockup-calendar-set-the-price
language: en
keywords: "Cerebras, OpenAI, Nvidia, Sam Altman, Stocks, IPO"
---

# Cerebras hits a new low days before insiders can sell

> The bigger test comes with the third-quarter report, which lands alongside an unlock of up to 171.1 million shares.

Cerebras Systems (Nasdaq: CBRS) shares fell about 10% to their lowest price since the May listing on 12 October, two days before insiders can sell 19.4 million shares [1][2][3][4]. [A far larger unlock](https://financefeeds.com/cerebras-cbrs-stock-falling-below-185-ipo-price/), up to 171.1 million shares, follows the third-quarter results: on the second trading day after them, or on 10 November if that comes first [3].

A lockup is the period after a listing when early holders may not sell. Some insiders are selling already: chief executive Andrew Feldman and chief technology officer Sean Lie [have sold more than $240 million of stock](https://www.cnbc.com/2026/10/02/cerebras-stock-hits-post-ipo-low-on-nvidia-pressure-lockup-expiration.html) since August under trading plans [3][5].

## The third-quarter report is the date to watch

[A report that](https://finance.yahoo.com/technology/ai/articles/cerebras-stock-slides-nvidia-reportedly-142404033.html) [OpenAI](https://theinference.org/markets/companies/openai) moved a fast new product onto [Nvidia](https://theinference.org/markets/companies/nvidia) chips started the slide, and praise from OpenAI chief executive [Sam Altman](https://theinference.org/markets/people/sam-altman) [lifted the shares for only a few days](https://theinference.org/article/cerebras-rallied-9-on-altman-s-praise-but-openai-s-20-billion-revenue-gap-sets-a-november-test) [1][5][6][7]. Neither company has confirmed the report [3].

*Chart: **A 9% Altman bounce, then CBRS printed its lowest price of its public life** Column chart of the Cerebras share price at five moments in 2026: $185 IPO price on 14 May, $311.07 first-day close, $166.43 close on 2 October, $181.55 close on 5 October after Altman's post, and about $147.40 intraday on 12 October.*

*Cerebras Systems (CBRS) share price in US dollars: offer price and first-day close on 14 May 2026, closing prices on 2 and 5 October 2026, and the early-afternoon print of 12 October 2026. Sources: Nasdaq data via FinanceFeeds; CNBC; Business Chief; Yahoo Finance. [1][3][5][7]*

The third-quarter report arrives with the big unlock. It will show whether OpenAI, which anchors most of Cerebras' contracted backlog, is still paying for its capacity, and whether Cerebras can turn that backlog into revenue while it spends heavily to build [3][7][8]. A weak OpenAI line would meet the new supply in the same week.

## Takeaway

Cerebras' big unlock arrives with its third-quarter report, so a weak OpenAI revenue line would meet new supply in the same week.

## Sources

1. [Yahoo Finance (via Investing.com), "Cerebras stock slides as Nvidia reportedly powers OpenAI's 'Ultrafast' tier", 30 September 2026; page carried a live CBRS quote near $147.46, down 10.18%, at fetch on 12 October 2026](https://finance.yahoo.com/technology/ai/articles/cerebras-stock-slides-nvidia-reportedly-142404033.html)
2. [Barron's, "Once Wall Street's Darling, Cerebras Stock Is Struggling", 12 October 2026](https://www.barrons.com/articles/cerebras-stock-ai-chips-openai-struggling-eba797f1)
3. [FinanceFeeds, "Why Cerebras Stock Is Falling Below Its $185 IPO Price in 2026", 2 October 2026](https://financefeeds.com/cerebras-cbrs-stock-falling-below-185-ipo-price/)
4. [TipRanks, "Why Cerebras Stock Is Plunging Today - and What Wall Street Sees Next", 12 October 2026](https://www.tipranks.com/news/why-cerebras-stock-is-plunging-today-and-what-wall-street-sees-next)
5. [CNBC, "Cerebras stock hits post-IPO low, tumbling 20% for the week on Nvidia pressure, lockup expiration", 2 October 2026; live CBRS quote of $147.40, down 10.22%, at fetch](https://www.cnbc.com/2026/10/02/cerebras-stock-hits-post-ipo-low-on-nvidia-pressure-lockup-expiration.html)
6. [Benzinga via TradingView, "Cerebras Stock Fell on OpenAI Chip Report, Then Rose 9% After Altman Weighed In", October 2026 (undated page; carries a $161.61 print)](https://www.tradingview.com/news/benzinga:e63007e08094b:0-cerebras-stock-fell-on-openai-chip-report-then-rose-9-after-altman-weighed-in/)
7. [Business Chief, "Cerebras Rebounds 9% as Sam Altman Calls It a Close Partner", 6 October 2026](https://businesschief.com/news/cerebras-rebounds-9-as-sam-altman-calls-it-a-close-partner)
8. [Cerebras Systems, quarterly figures from its SEC filings, retrieved 12 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0002021728)


---

Cerebras hits a new low days before insiders can sell — The Inference. Canonical: https://theinference.org/article/altman-s-17-words-lifted-cerebras-9-the-lockup-calendar-set-the-price