The Obsidian

The Technology Desk

Technology

AI, semiconductors, platforms, and the policy that follows them.

Lead Story

Cerebras Doubles on Debut, Crossing $100 Billion in Market Value

Cerebras Systems opened at $350 against an offer price of $185 in its Nasdaq debut on Thursday, valuing the wafer-scale chipmaker above $100 billion and ranking the offering as the largest US tech IPO since Uber.

Technology

Inside SpaceX's $55 Billion Bet on Building Its Own Chips

Court filings reveal a planned 'Terafab' semiconductor plant in Texas with a sticker price that could reach $119 billion. The implication is not that SpaceX wants chips — it is that it no longer trusts anyone else to supply them.

Technology

Cerebras Prices Above Range. The AI IPO Window Reopens.

Cerebras Systems is guiding investors that it will price its IPO above the marketed range — the first AI hardware company in months to do so. The signal matters more than the proceeds.

More from the Desk

SoftBank's $457 Million Doubles Down on Graphcore

SoftBank has injected nearly half a billion dollars into Graphcore, the Bristol-based AI chipmaker it acquired in 2024. The investment binds the British company more tightly to SoftBank's AGI thesis.

TSMC Approves $31 Billion. The AI Buildout Has Outrun Its Suppliers.

Taiwan Semiconductor's board approved a $31.28 billion capital budget this week. The figure reflects a single conclusion shared across the industry: demand has outrun installed capacity, and the gap is not closing on its own.

The AI Doctor's Assistant: How New Tools Could Help Clinicians Work Faster and Smarter

As health systems face staff shortages and rising pressure, new AI tools are being designed not to replace doctors, but to support them with faster research, safer decisions and better patient care.

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