Been glued to ai-tldr.dev this week — the signal-to-noise ratio on that digest is unreal. Here's my take on the three stories I can't stop thinking about.

1. Cerebras Files for IPO at $26.6B

The AI chip wars just got a new front. Cerebras — the company that built wafer-scale processors specifically for AI workloads — is going public at a $26.6B valuation with 28M shares priced at $115-125. Banks are already fielding ~$10B in orders for a $3.5B offer.

This matters because Cerebras' architecture is fundamentally different from NVIDIA's GPU approach. Instead of linking thousands of discrete chips, they literally put the entire neural network on a single silicon wafer. For certain inference workloads, the latency difference is dramatic.

The IPO will be a fascinating test of whether the market believes there's room for a credible NVIDIA alternative in the inference era.

2.…