Google’s Big AI Test Comes Next Week

Google’s I/O conference next week arrives amid continued market enthusiasm for AI companies, new product moves from OpenAI and Anthropic, and signs that consumer and workplace uses of the technology are pulling apart in practice.

Market Activity Around AI Firms

Cerebras completed its public debut with an opening trade that doubled the share price before closing up 68 percent, lifting the market capitalization from roughly $40 billion to $66 billion. The company had already raised its offering size and price ahead of the listing, reflecting strong private demand that carried into public trading. Some observers, including Jim Cramer, called the valuation detached from near-term fundamentals, while others framed the result as evidence that broad enthusiasm for AI infrastructure remains intact ahead of expected IPOs from SpaceX, Anthropic, and OpenAI.

Figma reported quarterly revenue growth of 46 percent, up from 40 percent the prior quarter, and attributed the acceleration to AI features. The company introduced usage caps and paid overages for token consumption in March; retention of AI tools stayed at 75 percent of customers. The stock rose 8 percent in after-hours trading. NVIDIA shares advanced 20 percent over seven days, moving the company close to a $6 trillion valuation.

Partnership and Tool Shifts