Shares of Cerebras Systems Inc. surged 15.67%, or $34.31, to $253.29 as of 12:08 p.m. EDT Monday, extending a pattern of dramatic price swings that has defined the artificial intelligence chipmaker’s stock since its blockbuster public debut earlier this year.

Monday’s rally adds to what has already been one of the most volatile trading histories among recent major technology listings. Cerebras stock has moved through an extraordinarily wide range over the past several weeks alone, climbing from roughly $176.88 on July 20 to as high as $262.06 by Aug. 12, before pulling back sharply amid concerns tied to the company’s most recent earnings report and competitive pressures within the AI chip sector.

Cerebras made its Nasdaq debut on May 14 in what became the largest U.S. technology initial public offering since Snowflake’s 2020 listing. The company, which designs specialized wafer-scale semiconductors for AI training and inference, priced its shares at $185 apiece, above an already-raised range, raising approximately $5.55 billion by selling 30 million shares. Demand for the offering proved extraordinary: shares opened at $350 on their first day of trading, nearly double the IPO price, before touching an intraday high of $385 and ultimately closing that first session at $311.07, a gain of 68.2%. The debut valued the company at nearly $70 billion on a standard basis, or as much as $86 billion on a fully diluted basis that accounted for restricted shares, stock options and warrants, according to Bloomberg data at the time.

Since that dramatic opening, Cerebras shares have continued to whipsaw sharply in both directions, reflecting the market’s ongoing effort to price a company that combines rapid revenue growth with substantial ongoing losses. The company’s most recent quarterly report showed record second-quarter revenue of $209.9 million, exceeding consensus analyst expectations of roughly $193.6 million. Despite that revenue beat, shares fell as much as 12% to 17% in the sessions following the report, as investors focused instead on a narrowing but still substantial operating loss, heavy customer concentration risk, and broader questions about the durability of demand for the company’s specialized AI hardware relative to established competitors.

Cerebras’ most significant rival remains Nvidia, the world’s most valuable publicly traded company and the dominant supplier of graphics processing units used across the AI industry. Cerebras has positioned its wafer-scale engine technology, which places an entire silicon wafer’s worth of computing power onto a single chip rather than relying on clusters of smaller GPUs, as offering meaningful speed and cost advantages over traditional GPU-based architectures, though the approach also carries tradeoffs, including significant power consumption and a cost of up to $3 million per computing node, according to technical descriptions of the company’s systems.

Despite the stock’s volatility, Cerebras has continued to expand its commercial partnerships within the broader AI industry. The company announced last week that its chips are now powering a new “Ultrafast” service tier within OpenAI’s application programming interface for GPT-5.6 Sol, with Cerebras saying its hardware helps the model run up to 14 times faster than standard configurations. Cerebras has also maintained a partnership with Amazon, and OpenAI previously launched one of its AI models running specifically on Cerebras’ chip infrastructure earlier this year, underscoring the company’s efforts to establish itself as a credible alternative supplier within the rapidly expanding AI infrastructure market.

Wall Street analyst sentiment toward Cerebras has remained largely positive despite the stock’s sharp swings. Citi has maintained a buy rating on the shares, while Craig-Hallum has similarly reaffirmed its own buy recommendation on the stock following the company’s recent earnings report. Investment firm Wedbush also remained bullish following the second-quarter results and raised its price target on the stock even as shares fell in the immediate aftermath of the earnings release, according to coverage of the report. Notable institutional investors have also continued showing interest in the stock; Cathie Wood’s ARK Invest reportedly purchased approximately $25 million worth of Cerebras shares in a single trading session while simultaneously trimming its position in Palantir Technologies, according to reporting on the fund’s portfolio activity.

Cerebras’ underlying financial profile continues to reflect a company in an aggressive, early-stage growth phase. The company reported total quarterly revenue of $180.11 million in an earlier period this summer, alongside a net loss of approximately $450.53 million and a basic loss per share of $2.98, figures that illustrate the substantial gap that remains between the company’s current revenue base and profitability. Cerebras has maintained a substantial cash position exceeding $6.7 billion, providing what analysts have described as significant financial runway to continue funding its aggressive expansion within the AI infrastructure market despite ongoing losses.

The stock’s 52-week trading range illustrates just how dramatic Cerebras’ volatility has been since its public debut, with shares having traded as low as $160.81 and as high as $386.34 over the past year, according to trading data. That range reflects a stock that has, at various points, traded both well above and well below its already elevated first-day closing price, underscoring the market’s continued uncertainty about how to value a company combining rapid top-line growth, significant ongoing losses, and a business model built around challenging one of the world’s most dominant technology companies in Nvidia.

Cerebras was founded in 2015 by Sean Lie, Andrew Feldman, Gary Lauterbach, Michael James and Jean Philippe Fricker, and is headquartered in Sunnyvale, California. Feldman, the company’s co-founder and chief executive, has continued to publicly defend the company’s long-term growth trajectory following the stock’s post-earnings decline, with at least one Wall Street analyst characterizing recent investor skepticism as “missing the forest for the trees” relative to the company’s broader positioning within the AI infrastructure buildout, according to commentary on the stock following its second-quarter results.

As Cerebras continues navigating its first several months as a public company, Monday’s sharp rally adds another chapter to what has already become one of the more closely watched and volatile trading stories among this year’s crop of high-profile AI-related public listings, with investors continuing to weigh the company’s rapid revenue growth and expanding partnership base against its substantial ongoing losses and intensifying competition within the broader AI semiconductor market.

Oil futures settled up more than $2 per barrel as investor pessimism about ​diplomatic efforts to resolve the Iran war fanned global supply worries. The gain in oil provided support for ​the energy index.

Investors, with July’s weak retail sales and jobs data fresh in their minds, were cautious as they waited for quarterly results from retailers. Home improvement company Home Depot is due to ​report on Tuesday, and retail bellwether Walmart on Thursday.

“Concerns about ⁠recent softer ‌data have the market being a bit tepid and waiting for retail ​earnings for direction,” ​said Phil Blancato, chief market strategist at Osaic Wealth, who added that volume ⁠is often weak in August, when many traders take vacations. “There’s a ​combination of summer doldrums and waiting for data on the consumer.”

According to preliminary data, the S&P 500 lost 39.55 points, or 0.51%, to end at 7,746.21 points, while the Nasdaq Composite lost 76.87 points, or 0.31%, to 26,652.29. The Dow Jones Industrial Average fell 263.21 points, or 0.49%, to 53,469.20.

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Most of the benchmark S&P 500’s 11 major industry sectors lost ground on the day with communications services, consumer staples and consumer discretionary among the weakest.
The S&P 500 ‌technology sector flitted between red and green during the session. Trading in technology has been volatile with investors anxious about whether hefty spending on artificial intelligence will ​pay off. Reuters ​reported on Friday that two ⁠people familiar with Anthropic’s financials said the company, which is preparing for its IPO, forecast 2028 revenue of roughly $190 billion to $200 billion.On Monday, gains in chip stocks were offset by declines in software ​with the PHLX semiconductor index rallying while the S&P 500 Software & Services index sank.

Investors are also waiting for results, due out next week, from leading AI chipmaker Nvidia, the world’s most valuable company.

In individual movers, U.S.-listed shares of Vista gained ground after Peter Thiel bought a 1% stake in the Latin American oil company.

SHANGHAI — Shares of ChangXin Memory Technologies, known as CXMT, jumped 12%, or 6.62 yuan, to 61.80 yuan as of 3:00 p.m. local time Monday, extending an extraordinary rally that has continued largely uninterrupted since the Chinese memory chipmaker’s blockbuster debut on the Shanghai Stock Exchange’s tech-focused STAR Market three weeks ago.

CXMT’s stock has surged dramatically since it began trading on July 27, when shares soared as much as 466% to 500% on their first day of trading alone, instantly making the Hefei-based company the most valuable listed entity on any mainland Chinese exchange. The company’s shares closed that opening session at 49 yuan, giving CXMT a market capitalization of roughly 3.3 trillion yuan, or approximately $487 billion at the time, a figure that vaulted the company past state-owned Industrial and Commercial Bank of China as China’s most valuable listed company.

The rally has continued in the weeks since, with shares climbing further to close at 57.60 yuan the following Friday, pushing the company’s market capitalization to roughly 3.54 trillion yuan, or about $523 billion, according to figures reported at the time. Monday’s additional 12% gain to 61.80 yuan pushes the stock further into record territory, underscoring the sustained investor enthusiasm surrounding the company since its listing.

CXMT’s initial public offering itself was a landmark event for Chinese capital markets. The company raised 57.92 billion yuan, or roughly $8.6 billion, by pricing its shares at 8.66 yuan each, making it the largest IPO in Asia so far this year and mainland China’s second-largest public offering on record, trailing only the $22.1 billion combined Shanghai and Hong Kong listing of Agricultural Bank of China in 2010.

Founded in 2016 in the eastern Chinese city of Hefei with state backing, CXMT specializes in designing, manufacturing and selling dynamic random-access memory, or DRAM, chips, a category of semiconductor widely used in servers, personal computers, mobile devices and smart vehicles. The company’s major clients include Alibaba Group’s cloud computing division, Alibaba Cloud, along with ByteDance, Tencent Holdings, Lenovo, Xiaomi and several major smartphone manufacturers including Honor, Oppo and Vivo.

According to figures disclosed in the company’s IPO prospectus, CXMT held approximately 7.67% of the global DRAM market based on fourth-quarter 2025 sales data, a share that has continued growing as the company has expanded production. By comparison, the global DRAM market remains dominated by three much larger established players: South Korea’s Samsung Electronics, which the company’s prospectus placed at roughly 36% global market share, SK Hynix at approximately 29%, and U.S.-based Micron Technology at around 24%.

CXMT’s dramatic financial turnaround has helped fuel investor enthusiasm surrounding the stock. The company swung to an operating profit of 35.43 billion yuan in the first quarter, reversing a loss of 2.83 billion yuan during the same period a year earlier, a shift the company has attributed to continued growth in global computing demand tied to artificial intelligence and increased capacity allocation from major device manufacturers seeking memory chip supply.

CXMT’s rise has taken on particular significance given the broader geopolitical backdrop shaping China’s semiconductor industry. The company has emerged as a central symbol of Beijing’s broader push toward technological self-sufficiency, particularly in advanced chipmaking, as China continues to contend with U.S.-led export restrictions limiting its access to cutting-edge chipmaking equipment and technology. The company is also investing heavily in high-bandwidth memory, or HBM, a specialized and more advanced form of DRAM critical for the kind of advanced processors used in AI applications, including graphics processing units made by Nvidia. CXMT has said it aims to begin production at a dedicated HBM back-end packaging facility in Shanghai by the end of 2026.

Adding further to investor interest surrounding the stock, reports emerged earlier this summer that Apple had begun testing CXMT’s DRAM chips for potential use in devices sold within China, a development that, if it results in a formal supply relationship, could mark a significant commercial validation of the Chinese chipmaker’s technology by one of the world’s largest device manufacturers.

Despite its meteoric post-IPO rise, CXMT’s market capitalization, while enormous by Chinese standards, remains smaller than those of its more established South Korean and American rivals. Samsung Electronics and SK Hynix continue to carry substantially larger valuations reflecting their more mature and diversified chip businesses, and analysts have noted that CXMT still trails those companies by several years in terms of advanced manufacturing capability, particularly for next-generation HBM chips. SK Hynix, for instance, has said it expects to begin large-scale production of its next-generation HBM4 chips by the end of this year, a timeline analysts expect CXMT’s own advanced memory production to lag behind.

Market analysts remain divided over whether CXMT’s extraordinary valuation reflects a sustainable, long-term shift in global memory chip supply chains toward greater Chinese participation, or a shorter-term surge driven primarily by AI-related memory shortages and limited available trading float in the stock’s early weeks on the market. One market strategist noted that a roughly 470% first-day gain, while not entirely without precedent among smaller Chinese listings, was particularly notable given CXMT’s substantial size, suggesting that a combination of limited free float and pent-up market sentiment played a significant role in driving the stock’s initial surge.

Morningstar has separately noted that the broader strategic significance of AI-related semiconductor self-sufficiency for China’s national security priorities has likely contributed to sustained investor demand for CXMT shares beyond what might be explained by the company’s current financial fundamentals alone, reflecting the broader political and economic weight Beijing has placed on developing homegrown alternatives to foreign-dominated segments of the global chip supply chain.

As CXMT’s rally continues into its fourth week of trading, the stock’s performance is likely to remain closely watched both as a barometer of investor sentiment toward China’s broader semiconductor self-sufficiency push and as a test case for how sustainably newly listed Chinese technology companies can maintain extraordinary post-IPO valuations once the initial wave of listing-driven enthusiasm begins to settle into more conventional trading patterns.

GREENVILLE, S.C. — Tributes continued pouring in from across Hollywood on Monday following the death of actress Hayden Panettiere, best known for her roles in “Heroes” and “Nashville,” as investigators said a preliminary probe into her death has found no evidence of foul play or suspicious circumstances.

Officers and emergency medical personnel responded to a report of an unresponsive woman at the Judson Mill Lofts apartment complex in Greenville shortly before 2 p.m. Sunday, according to a statement from the Greenville Police Department. Life-saving measures were performed at the scene, but Panettiere was pronounced dead. Police said an acquaintance of the 36-year-old actress had placed the 911 call from the apartment complex. No cause of death has been released, and the Greenville County Coroner’s Office was expected to perform an autopsy as the investigation continues.

Panettiere’s representative confirmed her death Sunday night in a statement provided to ABC News. “It is with profound sadness that we share the tragic passing of our beloved Hayden. She was an incredible light and a force of nature who brought immeasurable love and joy to all who knew her – and to the millions who watched her onscreen,” the statement read.

Panettiere’s death came just three years after she mourned the loss of her younger brother, actor Jansen Panettiere, who died suddenly in 2023 at age 28. Jansen’s family said at the time that a medical examiner determined his death was caused by cardiomegaly, an enlarged heart, along with complications involving the aortic valve, and it remains unknown whether the condition had been diagnosed before his death. In a statement following his death, the family remembered him warmly. “Jansen’s heart could be seen in his eyes, and his charm in his brilliant, engaging smile; his soul in his masterful and revealing paintings, and the joy of life in his dry wit,” the family said, adding that “his charisma, warmth, compassion for others, and his creative spirit will live forever in our hearts and in the hearts of all whom he encountered.”

As word of Hayden Panettiere’s death spread Monday, tributes continued arriving from friends and former colleagues across the entertainment industry. Kelly Osbourne shared a deeply personal message on her Instagram Stories, reflecting on a shared understanding between the two women about growing up in the public eye. “We understood each other in a way few truly can — recognizing how difficult it is to grow up in the spotlight, and how isolating it can feel even when surrounded by so many people,” Osbourne wrote, adding, “My heart grieves for someone so special to this world and such a good friend to me. I will never forget you, Hayden, and I will always believe you deserved better. Rest in peace, sweet princess. You will never be forgotten.”

“Heroes” co-star Dania Ramirez, who appeared alongside Panettiere on the NBC series, reflected on the lasting impact of their friendship. “My heart aches so much right now. I love you and will always miss you,” Ramirez wrote on Instagram. “I take comfort in knowing that I am with you in life and in death because your love and energy has always transcended this dimension.” Ramirez also sent condolences to Panettiere’s daughter and loved ones, writing that “the ones that got to feel your gifts will forever feel blessed and grateful for you.”

Fellow “Heroes” co-star James Kyson, who recalled first meeting Panettiere when she was just 16, described her as an experienced performer with an “older soul” despite her youth. Kyson remembered her as “a fierce protector of animal rights” and a “‘cheerleader’ for kindness, justice, and people being treated fairly,” writing on Instagram, “May your soul Rest in Peace Hayden… and my deepest condolences & prayers for her family. Life can be so short… let’s send some love out to the world, our loved ones, and to those who need it most today.”

The outpouring of grief has been especially notable given how recently Panettiere had spoken publicly about feeling hopeful for the future. Just one month before her death, she told Fox News Digital she had a “laundry list” of goals still ahead of her while promoting her memoir, “This Is Me: A Reckoning.” “I have a laundry list of things I would love to accomplish and create,” Panettiere said, adding that she felt “connected to myself” after years of documented struggles with addiction, postpartum depression and domestic abuse. “I feel like I’m taking good care of myself, checking in with myself,” she said, revealing she had been developing a new television project and hoped to move into directing. “I have a show that I’ve been working on and I would love to create that,” she said. “I would love to direct. I just want to share my secrets, my tricks, the things that I’ve learned in life and help others be their best selves.”

In that same interview, Panettiere spoke candidly about her bond with her 11-year-old daughter, Kaya, whom she shares with former fiancé Wladimir Klitschko, and reflected on her decision years earlier to allow Kaya to live primarily with her father. “I felt like I made the right call,” Panettiere said. “I’ve seen who she is and she’s an incredible human being. Something must have gone right.” She described staying close to her daughter despite the distance between them. “I travel a lot to Europe, and I spend a lot of time on FaceTime with her,” she said. “And Wlad and I have a good relationship.” Reflecting on how their bond had evolved as Kaya grew older, Panettiere added, “She’s 11 now, so time is flying. I feel like she’s becoming more and more curious about me, my life and who I am. We’re so similar. She is me. I understand her in a way that nobody else can.”

Weeks before her death, Panettiere had also spoken during a podcast appearance with Jay Shetty about feeling as though she had finally moved past years of personal turmoil. “I finally feel like I have shaken off all of this darkness and this negativity,” she told Shetty in May. “That means that I’ve closed one door and another door is opened … I can feel all the exciting possibilities. I feel like I have a lot more life to live.”

Panettiere began her career as an infant appearing in television commercials before landing a role on “One Life to Live” around age 4. She rose to widespread fame as Claire Bennet, the seemingly indestructible cheerleader at the center of NBC’s superhero drama “Heroes,” which ran from 2006 to 2010, before starring as country singer Juliette Barnes on “Nashville” from 2012 to 2018. Her film career included a breakout role alongside Denzel Washington in 2000’s “Remember the Titans,” as well as parts in “Bring It On: All or Nothing” and the “Scream” horror franchise.

As of Monday, the Greenville County Coroner’s Office had not released an official cause of death, and police said the investigation remains ongoing.

SHANGHAI — Shares of GigaDevice Semiconductor Inc. rose sharply on Monday, closing at 444.00 yuan, up 26.52 yuan or 6.35% from the previous close of 417.48 yuan, as investors responded to ongoing strength in the memory chip sector and anticipation of the company’s first-half results.

The Shanghai-listed stock, trading under the ticker 603986, fluctuated between 420.23 yuan and the day’s high of 444.00 yuan on elevated volume of nearly 59 million shares. The advance extended a recent recovery after a period of volatility and left the shares up more than 10% over the past five trading days. Over the past year the stock has gained more than 250%, with a 52-week range spanning 121.51 yuan to 846.66 yuan. Year-to-date gains exceed 100%.

GigaDevice is a Beijing-based fabless semiconductor designer focused on flash memory products, including NOR Flash and SLC NAND, as well as 32-bit microcontrollers, sensors and analog chips. The company ranks among the global leaders in NOR Flash and holds a strong position in China’s high-performance general-purpose microcontroller market, with cumulative MCU shipments exceeding 2 billion units. Its products serve consumer electronics, industrial automation, automotive electronics, optical modules and emerging AI-related applications.

The latest rally comes against a backdrop of tight supply and rising prices in niche memory markets. Industry dynamics have shifted as major global manufacturers allocate more capacity to high-bandwidth memory and advanced 3D NAND for artificial intelligence data centers, reducing output of mature-node products such as NOR Flash and SLC NAND. This imbalance has supported both higher volumes and elevated pricing for suppliers like GigaDevice. Microcontroller demand has also remained robust across industrial, consumer and automotive end markets.

In early July the company issued a first-half 2026 performance forecast indicating revenue of approximately 11.5 billion yuan, representing year-on-year growth of about 177%. Net profit attributable to shareholders was projected at roughly 6.9 billion yuan, a more than eleven-fold increase from the prior-year period. Non-GAAP net profit was estimated near 4.85 billion yuan. Management attributed the expected surge primarily to improved profitability in the storage business amid constrained supply and to solid microcontroller shipments. The company also noted contributions from fair-value gains on securities investments.

First-quarter results released earlier this year already showed sharp acceleration. Revenue reached 4.188 billion yuan, up 119% from a year earlier, while net profit attributable to shareholders climbed to 1.46 billion yuan, a more than five-fold increase. Gross margin expanded significantly. Full-year 2025 revenue had totaled 9.203 billion yuan, up 25%, with net profit rising nearly 50%.

Investors are now focused on the formal first-half results, scheduled for release around mid-to-late August. Analyst consensus estimates circulating ahead of the report point to continued strong sequential momentum in the second quarter. The company has also pursued capital-return and expansion measures in recent weeks, including authorization of a share repurchase program of up to 2 billion yuan and additional funding for a DRAM-related subsidiary.

Beyond financial performance, GigaDevice has expanded its product lineup and partnerships. Recent launches include the GD24CL series of I²C EEPROMs and new microcontroller series tailored for optical modules. The firm has secured automotive design wins and formed collaborations aimed at advancing power and control solutions for data centers, electric vehicles and energy systems. These initiatives align with broader efforts in China to strengthen domestic semiconductor capabilities amid global supply-chain shifts.

The memory industry remains cyclical by nature. Company disclosures have previously highlighted that future results could be affected by changes in the supply-demand balance, potentially pressuring profitability if conditions reverse. Valuations have expanded alongside the share-price gains, with trailing price-to-earnings multiples remaining elevated relative to longer-term averages.

Chinese semiconductor equities have drawn renewed attention this year as artificial intelligence demand supports specialized memory and related components. GigaDevice’s dual listing in Shanghai and Hong Kong has provided additional liquidity and visibility to international investors tracking the sector. Trading volumes on the A-share market have frequently exceeded average levels during periods of heightened interest.

Monday’s session saw the stock open near 424 yuan and climb steadily toward the close, reflecting broad participation. Market capitalization stood at approximately 310 billion yuan based on the closing price. The move occurred as global technology shares showed mixed performance, with selective strength in memory-related names elsewhere.

Looking ahead, attention will center on the detailed half-year figures, any updated outlook for the remainder of 2026, and commentary on inventory levels, pricing trends and capacity access. Analysts have noted that sustained AI infrastructure spending and automotive electrification could extend demand for the company’s core product categories, though the pace of any further gains will depend on execution and industry conditions.

GigaDevice’s trajectory illustrates the leverage available to specialized chip designers during periods of constrained supply. After a multi-year cycle of inventory adjustments and pricing pressure, the current environment has delivered rapid earnings expansion. Whether the momentum continues will hinge on how long the tightness in mature memory technologies persists and how effectively the company converts design wins into sustained revenue streams across its diversified portfolio.

The stock’s performance on Monday underscored investor focus on tangible financial catalysts and sector tailwinds. As results approach, market participants will scrutinize the quality of the profit surge and the sustainability of the underlying demand drivers that have propelled GigaDevice’s shares to elevated levels this year.