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May 15, 2026 12:01 PM

Cerebras' 68% Rally Signals Demand Beyond Magnificent 7 AI Plays

For much of the AI boom, investors looking for exposure had a simple playbook: buy the Magnificent Seven.

That trade may be starting to evolve. Shares of Cerebras Systems Inc. (NASDAQ:CBRS) opened at $350, significantly above the IPO price of $185 on Thursday. Intraday trading saw CBRS surge over $386 before closing at $311.07, still 68% above the IPO price, turning a niche AI hardware company into one of Wall Street's hottest new trades almost overnight.

The Thursday rally may signal something bigger than enthusiasm for a single stock. Investors increasingly appear willing to chase pure-play AI infrastructure bets with the same intensity once reserved almost exclusively for mega-cap tech giants.

Beyond Big Tech AI Exposure

Until recently, the easiest way to participate in the AI rally was through companies like Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc.