{"id":27280,"date":"2026-05-11T16:06:11","date_gmt":"2026-05-11T16:06:11","guid":{"rendered":"https:\/\/www.europesays.com\/news\/27280\/"},"modified":"2026-05-11T16:06:11","modified_gmt":"2026-05-11T16:06:11","slug":"tech-stocks-today-chipmaker-cerebras-to-stage-blockbuster-ipo-ai-in-focus-for-trump-xi-meeting","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/news\/27280\/","title":{"rendered":"Tech stocks today: Chipmaker Cerebras to stage blockbuster IPO, AI in focus for Trump-Xi meeting"},"content":{"rendered":"\n

Tech stocks started the trading week mixed on Monday, after\u00a0chipmakers got a boost<\/a>\u00a0on Friday on a Wall Street Journal report that Apple (AAPL<\/a>) and Intel (INTC<\/a>) reached a deal that will have Intel supply the iPhone maker with chips.<\/p>\n

UAE-based AI chipmaker Cerebras is expected to make a splashy public debut. The company filed paperwork Monday increasing its initial public offering to 30 million shares with the goal of raising up to $4.8 billion, Bloomberg reported<\/a>. The startup counts Amazon (AMZN<\/a>) and OpenAI (OPAI.PVT<\/a>) among its customers, and its inital public offering is likely to be the biggest IPO of 2026 so far.<\/p>\n

In other tech news, Tesla (TSLA<\/a>) CEO Elon Musk and Apple CEO Tim Cook were invited to join the US delegation to Beijing, according to Bloomberg. President Trump and Chinese President Xi Jinping are scheduled to meet later this week to discuss trade, the war in Iran, powerful AI models, and more.<\/p>\n

Meanwhile, the Elon Musk versus OpenAI (OPAI.PVT<\/a>) trial, which wrapped up its second week<\/a> on Thursday, is set to resume on Monday.<\/p>\n

Musk\u2019s lawsuit against one of the world\u2019s most valuable private companies has provided a number of details about the inner workings of OpenAI and the relationships between Musk, his fellow co-founders, CEO Sam Altman, and president Greg Brockman, former chief technology officer Mira Murati, and former board member, and mother of four of Musk\u2019s children, Shivon Zilis.<\/p>\n

LIVE 4 updates<\/p>\n

Nvidia hits all-time intraday high <\/p>\n

Nvidia (NVDA<\/a>) stock jumped 2.8% on Monday, hitting an all-time high as chip stocks resumed their rally from Friday.<\/p>\n

The world\u2019s largest company had a market cap of $5.3 trillion. On Monday, Reuters reported<\/a> that Nvidia CEO Jensen Huang \u200bis not joining President Trump\u2019s trip \u200cto China this week.<\/p>\n

Several other chip stocks \u2014 Micron Technology (MU<\/a>), Intel (INTC<\/a>), and Qualcomm (QCOM<\/a>) \u2014 opened at record highs this morning. Semiconductor names have been riding a momentum wave<\/a> in recent sessions, as memory chips prove to be the latest catalyst in the artificial intelligence boom.<\/p>\n

AI communication with China in focus as Trump heads to Beijing <\/p>\n

When President Trump meets with Chinese President Xi Jinping this week in China, artificial intelligence will be a key agenda item.<\/p>\n

My colleague Ben Werschkul<\/a> reports:<\/p>\n

Another key question: whether the US and China use this trip to launch official talks on AI guardrails, as the Wall Street Journal recently reported,<\/a> amid fears that AI could become an arms race in the digital era.<\/p>\n

A top US technology official recently accused China of \u201cindustrial-scale distillation campaigns to steal American AI<\/a>.\u201d Trump officials reiterated over the weekend that this is an active area of concern, but it remains far from certain what the trip will yield.<\/p>\n

The US official said AI would likely be a topic of discussion but that China\u2019s record on cybersecurity broken promises means there\u2019s \u201cnot a lot of confidence in anything that would be unenforceable and unverifiable.\u201d<\/p>\n

But any progress in this area, even the prosaic establishment of more formal communication channels, could be a significant development, the Brookings Institution recently noted.<\/a><\/p>\n

\u201cThe United States and China hardly talk about AI, at least at the official level,\u201d the analysis noted, calling any new communication channels \u201ca crucial first step toward addressing an increasingly high-stakes issue.\u201d<\/p>\n

Read more here.<\/a><\/p>\n

Cerebras to raise IPO price range to $150-$160 as demand surges, sources say\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b <\/p>\n

United Arab Emirates-based artificial intelligence chipmaker Cerebras Systems is set to raise the size and price of its initial public offering amid hot demand for shares of the AI company, according to Reuters.<\/p>\n

Reuters reports:<\/p>\n

The \u200ccompany is considering a new IPO price range of $150-$160 a share, up from $115-$125 a share, and raising the number of shares \u200bmarketed to 30 million from 28 million, said the sources, who asked not to be identified because the information isn’t public yet.<\/p>\n

At the top of the new range, Cerebras would raise roughly $4.8 billion, up from $3.5 billion under its original terms, though the figures remain subject to change before pricing, the people said.<\/p>\n

The increase follows a broader \u200csurge in AI adoption that has \u2060driven sharp demand for high-performance chips and turned semiconductors into a key bottleneck in the technology supply chain. Cerebras’ IPO has drawn orders for more than 20 \u2060times the number of shares available, the people said, as the chipmaker looks to manage surging interest ahead of its May 13 pricing.<\/p>\n

Read more here.<\/a><\/p>\n

Everything you need to know from the first 2 weeks of the Musk v. OpenAI trial <\/p>\n

The trial between Tesla (TSLA<\/a>) CEO Elon Musk and OpenAI (OPAI.PVT<\/a>) picks back up on Monday.<\/p>\n

Musk is seeking damages and a reversal of OpenAI\u2019s transition to a for-profit.<\/p>\n

He contends that OpenAI\u2019s CEO Sam Altman and president Greg Brockman duped him into donating millions of dollars to get the company off the ground with the understanding that it would remain a nonprofit. OpenAI, however, says Musk is angry that the company rejected his offer to merge it with Tesla (TSLA<\/a>) and name him CEO of the new entity.<\/p>\n

\"OAKLAND, OpenAI CEO Sam Altman arrives at the Ronald V. Dellums Federal Building on April 30, 2026, in Oakland, Calif. (Benjamin Fanjoy\/Getty Images) \u00b7 Benjamin Fanjoy via Getty Images <\/p>\n

Yahoo Finance\u2019s Daniel Howley<\/a> recaps the biggest moments so far in the trial:<\/p>\n

OpenAI filed court documents claiming that Musk tried to gauge Brockman\u2019s interest in a settlement before the start of the trial. When Brockman suggested both sides drop their claims against each other, Musk allegedly told Brockman he would turn him and Altman into \u201cthe most hated men in America.\u201d<\/a><\/p>\n

The case will decide the future of OpenAI and whether it will continue to operate as a for-profit entity or revert to a nonprofit structure.<\/p>\n

During his testimony this week, Brockman claimed Musk wanted to become CEO of OpenAI because he needed $80 billion to build a city on Mars<\/a>.<\/p>\n

Brockman also disclosed that he holds a roughly $30 billion stake in the AI company<\/a>, as well as holdings in other Altman-backed companies.<\/p>\n

Read more here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Tech stocks started the trading week mixed on Monday, after\u00a0chipmakers got a boost\u00a0on Friday on a Wall Street…\n","protected":false},"author":2,"featured_media":27281,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1047,281,566,8,8666,12117,9,542,5937,7,6699],"class_list":{"0":"post-27280","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-stories","8":"tag-apple","9":"tag-bloomberg","10":"tag-elon-musk","11":"tag-headlines","12":"tag-initial-public-offering","13":"tag-intel","14":"tag-news","15":"tag-president-trump","16":"tag-tech-stocks","17":"tag-top-stories","18":"tag-wall-street-journal-report"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@news\/116556803811300552","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/posts\/27280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/comments?post=27280"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/posts\/27280\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/media\/27281"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/media?parent=27280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/categories?post=27280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/tags?post=27280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}