The major US stock indices are all closing solidly to the upside. The Dow industrial average closed above the 50,000 level for the first time since February 12. The S&P index and the NASDAQ index both closed in positive territory and that record levels once again. The S&P index rose 56.99 points or 0.77% at 7501.25. The NASDAQ index rose 232.88 points or 0.88% at 26635.22. The small-cap Russell 2000 was also higher with a gain of 0.67%.Shares of Cerebras IPO was a huge success with the price rising 68.3% to $311.26 after pricing at $185 after the close yesterday. The high price reached $386.34 before falling to a intraday low of $300.Cerebras is an AI chip designer that competes with Nvidia, known for its Wafer-Scale Engine (WSE) — a single chip designed to handle the computational demands of large language models more efficiently than clusters of traditional GPUs. Rather than cutting many small chips from a silicon wafer like the rest of the industry, the WSE-3 uses the entire wafer as a single chip — roughly 57 times larger than the largest competing GPU die — giving it vastly more on-chip memory, more processing cores, and higher interconnect bandwidth, all without the latency of communicating across a multi-chip GPU cluster. The core pitch is speed: fewer systems, less power, less cooling infrastructure — what Cerebras calls the fastest AI inference infrastructure in the world.Nvidia was not deterred as it closed a new all-time high of $235.74 up $9.91 or 4.39%. The Cerebras out of the way, it opens the door for the IPOs of SpaceX and OpenAI ultimately. To the moon. This article was written by Greg Michalowski at investinglive.com.