Cerebras Systems (CBRS) shares hit new lows following its May 2026 IPO. Rapid cloud capacity expansion is currently squeezing gross margins.
Reports indicate OpenAI may use competitor GPUs for upcoming models. This development underscores a significant customer concentration risk.
Second-quarter core revenues surged 103% year-over-year. Cloud services revenue jumped 287% during the same period.
The company reports a $25.4 billion backlog from its multi-year OpenAI deal. Analysts cite strong AI infrastructure demand as a driver for long-term optimism.