Retail traders speculate Musk could buy Cerebras after stock drop

Premarket moves and retail speculation

Yahoo Finance reports that Space Exploration Technologies Corp. shares, trading under the SPCX ticker, slipped 0.1% before the market opened on Monday. The move came as retail traders speculated that the sharp drop in Cerebras Systems shares could give SpaceX CEO Elon Musk a chance to buy the AI chipmaker.

The article says SPCX rose 1.9% on Friday and closed at $147.49. It also says Cerebras gained 1.7% that day to finish at $110.82. Even so, the stock remained about 40% below its $185 IPO price and 71% below its $386.34 debut-day peak.

Social media sentiment and takeover talk

Yahoo Finance says traders on Stocktwits were strongly positive on SPCX, with sentiment described as "extremely bullish" and message volume as "extremely high." For CBRS, sentiment was "neutral" with high message volume.

The article quotes several users speculating about a possible deal. One asked whether a SpaceXAI transaction was imminent. Another said Musk wanted the company, while a separate user suggested he was looking for a cheap buyout as others sold. A user who said they were short the stock offered a different view, saying the trend did not look good and that the shares could trade below $90 after earnings.

Halloween event and partnership questions

Yahoo Finance reports that one X user connected the two companies through a broader partnership theory. The user pointed to shared investors and suggested Cerebras could fit into Musk's AI infrastructure plans. The post also speculated that a Halloween event titled "Cafe Compute: The Night Before RSI" was jointly hosted by SpaceX and Cerebras.

The article says the Luma listing names Cerebras as a presenter but does not identify SpaceX as a host or announce a partnership. It also notes that the post highlighted Atreides Management, which has backed SpaceX and co-led Cerebras' $1.1 billion funding round in September 2025. The user argued that Cerebras could help speed up Musk's AI work alongside existing GPUs.

Musk comments and earlier OpenAI email

The chatter followed Musk's Sunday statement that SpaceX had closed $40 billion in GPU financing. Yahoo Finance says he also ruled out buying neocloud companies, which rent AI computing capacity.

The article says Musk's link to Cerebras goes back to OpenAI's early years. In a September 2017 email published by OpenAI, co-founder Ilya Sutskever discussed a possible acquisition through Tesla. Sutskever wrote, "In the event we decide to buy Cerebras," it would likely be done through Tesla, according to the email quoted by the report.