Yeah, I've tried to understand is it threat to Nvidia. Cerebras stock isn't going up. Even though it is significantly watt/token more efficient than Nvidia chips...
My understanding is that it's all about disaggregation. Prefill happens on GPUs which are ~2X-10X faster (vibes) but token generation happens on wafers which are (at that part) ~10X faster. So they don't compete at all; they synergize.