Asset Intelligence / Hyperliquid Context
CBRS
Market guides and dated reports for CBRS. Browse recent coverage below or use the archive pages to find older articles.
CBRS references 1 share of Cerebras Systems Inc. Class A common stock (Nasdaq: CBRS), quoted in USD. Cerebras develops wafer-scale AI processors, computing systems, and cloud services.
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Archive Summary
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CBRS Bounces Back to $190 on AI-Chip Beta, Not Fresh News
CBRS is back near $190, up almost 12% in a day, and there's no fresh Cerebras headline behind it. The last real company news was the July 9 European buildout and Flex manufacturing expansion, and that move already round-tripped. This latest leg is the AI-chip tape re-risking and dragging its highest-beta name along with it. At roughly 70x sales with most of its backlog tied to a single OpenAI commitment, Cerebras is what moves most when the semiconductor trade turns risk-on, and unwinds fastest when it turns off.
Archive
CBRS Article Archive
CBRS Perp Converges With Cerebras' Nasdaq Debut Tape Near $327
The xyz:CBRS perp is trading at $327.10, up 15.16% over the last six hours and now within a dollar of NASDAQ:CBRS as the day-one basis fully compresses. Cerebras priced its IPO at $185 last night and the stock opened at $350 on Nasdaq th…
CBRS Perp Slips Below the $350 Nasdaq Open After $387 Blow-Off
The xyz:CBRS perp is at $336.60, up 19.47% over the last five hours but now trading below the $350 level where Cerebras Systems opened on Nasdaq this morning. The market spent the first half of the day running 70% above Hiive's $220.90 s…
CBRS Perp Eases to $360 as Day-One Basis Finally Compresses
The xyz:CBRS perp has cooled to $360.90 after running 27.61% over five hours and tagging an intraday high near $387 in the prior hour. Cerebras opened on Nasdaq at $350 and traded above $370 in early going, finally pulling cash up to whe…
CBRS Perp Pushes Back to $378 as Cerebras' Day-One Bid Refuses to Compress
The xyz:CBRS perp has run another 33.73% over five hours to $378.20, working back toward this afternoon's $387 debut high. At $378.20 the contract is implying roughly $115 billion of equity value, about 2.04x the $56.43 billion fully dil…
CBRS Perp Grinds Back to $358 as the Cerebras Debut Bid Refuses to Quit
The xyz:CBRS perp has run another 26.63% over five hours to $357.90, working its way back toward this afternoon's $387 debut high after a shallow fade in between. At $357.90 the contract is implying roughly $109 billion of equity value, …
CBRS Perp Rebids to $338 After Cerebras Debut-Day Fade
The xyz:CBRS perp has run another 19.59% over three hours to $338.20, reclaiming most of the ground lost after the contract faded from $387.20 mid-afternoon. At $338 the basis is still implying roughly $103 billion of equity value — abou…
CBRS Perp Doubles the $185 IPO Price on Cerebras Debut Day
The xyz:CBRS perp has run another 30.40% over three hours to $370.40, holding more than 2x the $185 price at which Cerebras priced its IPO last night. After tagging $387.20 earlier this afternoon, the contract has settled into a $370 are…
CBRS Perp Extends to $387 as Cerebras Debut Pop Deepens
The xyz:CBRS perp has ripped another 36.33% over three hours to $387.20, extending the pop on Cerebras' Nasdaq debut after the company priced its IPO at $185 last night. At this level the perp implies roughly $118 billion of equity value…
CBRS Perp Rips to $350 as Cerebras Opens on Nasdaq
The xyz:CBRS perp ran 24.50% over two hours to $350.70 as Cerebras Systems opened for trading on the Nasdaq, hours after the company priced its IPO at $185 a share. The basis flipped overnight: yesterday the perp was fading 7.60% into th…
Cerebras Prices IPO at $185, CBRS Perp Converges Ahead of Nasdaq Debut
Cerebras priced its $5.55 billion IPO at $185 a share on the evening of May 13, above the already-revised $150 to $160 marketed range and well clear of the $115 to $125 the company originally filed. The xyz:CBRS perp faded 7.60% over the…
CBRS Gives Back Most of the Bounce With Cerebras IPO Eight Days From Pricing
The CBRS pre-IPO perp slid 14.60% over 16 hours to $228, giving back most of yesterday's recovery off the post-filing $205 print. The fade keeps grinding the basis lower ahead of Cerebras's expected May 13 IPO pricing, after the company …
Cerebras Files $115–$125 IPO Range, CBRS Perp Cracks 32%
Cerebras filed its S-1 amendment on May 4 with an IPO price range of $115 to $125 per share — a $3.5 billion raise at a $26.6 billion valuation at the top end, well below the $40 billion Bloomberg reported the company was targeting just …
CBRS Pre-IPO Perp Fades to $277 as Basis Tightens Into Roadshow Week
The trade.xyz HIP-3 perp on Cerebras Systems is down 11.94% over the last 16 hours to $277.90, giving back most of the pump that tagged the contract above $315 on Saturday after Bloomberg reported the IPO is now targeting up to $4 billio…
CBRS Pre-IPO Perp Hits $298 as Cerebras Targets $40B IPO
CBRS, the trade.xyz HIP-3 pre-IPO perpetual on Cerebras Systems, marked $298.10 on a 22.53% move after Bloomberg reported on May 1 that the AI chipmaker is now targeting up to $4 billion in its IPO at roughly a $40 billion valuation — ne…
How to Trade CBRS (Cerebras) on Hyperliquid
CBRS is the Hyperliquid HIP-3 pre-IPO perpetual for Cerebras Systems, the wafer-scale AI chipmaker that filed its Nasdaq S-1 on April 17 targeting a mid-May debut at a $22 to $25 billion valuation. The market is deployed by trade.xyz, se…
CBRS Pre-IPO Perp Tags $262 on Launch Day as Volume Spikes
The xyz:CBRS pre-IPO perpetual launched today on Hyperliquid via tradexyz, and the mark printed 38.35% higher to $262.90 within nine hours on $1.9M of 24-hour volume — roughly 180x the volume this market was running on just a few hours e…
CBRS Pre-IPO Perp Rips 15% on Thin Book as Cerebras IPO Window Opens
The xyz:CBRS perpetual on Hyperliquid jumped 15.45% in four hours to $219.30, printing on just $10,648 of 24-hour volume. Cerebras Systems filed its S-1 on April 17 and is targeting a mid-May Nasdaq listing at a $22-25B valuation, puttin…
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