Key Points
Cerebras Systems (NASDAQ: CBRS) went public at $185 per share on May 14, opening at $350 but currently trading around $205—an 11% increase from its IPO price. However, investors who sought post-IPO gains are currently facing losses.
Cerebras specializes in large AI processors built on a single silicon wafer, bypassing traditional GPU limitations. In 2025, the company’s core revenue surged 76% to $510 million and is projected to reach $855-$865 million in 2026. Notably, it has secured a multi-year deal worth $20 billion with OpenAI and has a backlog of around $25 billion, indicating strong future revenue potential.
Currently valued at $46.4 billion, Cerebras trades at 54 times this year’s sales, but it’s projected to trade at just six times its expected $7.32 billion revenue in 2028. Despite ongoing profitability challenges due to current operations, analysts expect EBITDA to turn positive in 2027 and 2028.
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