Cerebras drops about 10% to post-IPO low on OpenAI, lock-up and sector worries

Cerebras shares fell about 10% on October 12, a post-IPO low well below the $185 IPO price, while the iShares Semiconductor ETF fell 2.5%. Investors cited the OpenAI chip-workload report, concern about insider selling before a lock-up expiry, and weakness across semiconductors. All 10 analysts covering the stock rated it Buy, with an average 12-month target of $288.67 cited by the same source.

• Shares down about 10% on October 12, 2026
• Post-IPO low, well below the $185 IPO price
• iShares Semiconductor ETF (SOXX) down 2.5%
• Lock-up expiry about 19.4 million shares cited as a concern
• Average 12-month target $288.67 across 10 Buy ratings