Cerebras Systems' shares fell nearly 20% despite exceeding Q1 earnings expectations, as the AI chipmaker forecast a narrower full-year gross margin of 38-41%. CEO Andrew Feldman attributed this to temporary equipment rental from a customer to boost capacity.
AI chipmaker Cerebras reported nearly doubled revenue in its first earnings report post-IPO, but its stock dropped 10% in extended trading due to a forecast of declining gross margin. The company expects core revenue growth of 88% year-over-year for Q2.
Semiconductor companies Cerebras and Micron are set to report earnings this week, providing crucial insights into the sector's performance. Cerebras, a recent IPO, faces investor scrutiny after a significant stock drop, while Micron's report is a key test for memory chip stocks, which have seen explosive growth driven by options market activity.
Cerebras Systems, now valued at $60 billion after a blockbuster IPO, nearly failed in 2019, burning $8 million monthly to solve a complex chip packaging problem. A $1 billion loan from OpenAI includes warrants and exclusivity clauses.
Cerebras Systems' successful IPO, with shares popping nearly 70%, highlights the AI boom but also the difficulty for non-AI companies to attract Wall Street's attention amidst anticipation for massive IPOs from SpaceX, OpenAI, and Anthropic.
Cerebras Systems' massive IPO on Thursday, with a market cap near $100 billion, highlights extreme demand for AI chips. The company offers large, custom ASICs as an alternative to Nvidia's GPUs, particularly for AI inference, and faces competition from Groq, SambaNova, and D-Matrix.
Cerebras Systems, an AI hardware firm, saw its stock surge 68% on its Nasdaq IPO debut, raising $5.55 billion, despite analyst skepticism over its niche technology's long-term viability.
Cerebras Systems, an AI hardware firm, debuted on Nasdaq with a 68% stock surge, closing at $331.07 after an initial $185 IPO, achieving a $95 billion market cap and the largest US tech IPO since Uber's in 2019.
Cerebras Systems' IPO yielded billions for the AI chip maker, its founders, and major investors like Benchmark, which owns 9.5%. A serendipitous meeting in 2016 led to Benchmark's $25M Series A investment, despite initial skepticism about the hardware venture.
Cerebras Systems saw its stock jump 68% on its first day of trading, closing at $311.07. The AI-focused chipmaker raised $5.55 billion, marking the largest U.S. tech IPO since 2019 and signaling a potential resurgence in the tech public market.
Cerebras Systems, a Silicon Valley chipmaker, debuted on Nasdaq with a stock price opening at $350, valuing the company over $100 billion after raising $5.55 billion in its IPO, the largest for a U.S. tech company since Uber in 2019.
Cerebras Systems, an AI chipmaker and Nvidia competitor, raised $5.5 billion in its IPO, pricing shares at $185 (above the $150-$160 range) and opening at $385, a 108% surge, valuing the company at $56.4 billion fully diluted.
Market set for higher open amid positive Trump-Xi summit headlines; key earnings and IPOs in focus, including Cerebras Systems' $5.5B IPO and Cisco's blowout quarter.
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Cerebras Systems, an AI chipmaker, priced its IPO at $185/share, raising $5.55B, amid a surge in semiconductor investments, valuing the company at $56.4B.
Elon Musk was open to having OpenAI merge with Cerebras. Now Cerebras is looking at going public as soon as this week.
AI chip maker Cerebras is heading for a blockbuster IPO that could value it at $26.6 billion or more. It's relationship with OpenAI is deep and rich.
Cerebras Systems Inc. filed for an IPO on Nasdaq seeking to raise up to $3.5 billion by selling 28 million shares at $115-$125 each, potentially valuing the AI chipmaker at $26.6 billion. The company reported 76% year-over-year revenue growth to $510 million in Q4 with $87.9 million net income, and has a $20 billion+ deal to supply OpenAI through 2028.
In recent months, the company announced an agreement with Amazon Web Services to use Cerebras chips in Amazon data centers, as well as a deal with OpenAI reportedly worth more than $10 billion.
Cerebras said that it can expand its business with OpenAI over the coming years and that it gave OpenAI a warrant to purchase stock.
