EP 165: Cerebras IPO, Premium Tokens, Neo Clouds, and the Angstrom Era
EP 165: Cerebras IPO, Premium Tokens, Neo Clouds, and the Angstrom Era  
Podcast: The Circuit
Published On: Mon May 18 2026
Description: In this episode of The Circuit, hosts Ben Bajarin and Jay Goldberg dive into the rapidly shifting economics and structural changes across the semiconductor and AI industries. From the recent Cerebras IPO to the massive long-term forecast visibility in wafer fabrication equipment, they analyze whether current capital cycles align with the reality of enterprise AI demand. Finally, they debate how the "Angstrom era" and the end of Moore’s law are forcing a complete reinvention of chip manufacturing from scratch.