Cerebras (CBRS) Stock: Finland Partnership, Ark Buying, and What Analysts Say
TLDR
- Cerebras stock fell 3.6% to $177.50 on Tuesday despite announcing a new AI data center deal in Finland
- The Finland facility in Mikkeli will reach 165 MW of IT capacity, with a 50 MW phase already under construction
- Ark Invest bought roughly $17 million in CBRS stock on Aug. 25, with Cathie Wood betting on AI inference growth
- Q2 revenue hit $180.1 million, up 74% year-over-year, with cloud revenue jumping 287% YOY
- Wall Street holds a consensus “Strong Buy” with an average price target of $283.91, implying around 59% upside
Cerebras Systems (CBRS) dropped 3.6% to $177.50 on Tuesday, even as the company announced a major new data center partnership in Finland. The stock is now down over 42% in the past 12 months and sits more than 15% below its 20-day moving average.
The Finland deal is with Compute Nordic Finland, and covers a new AI data center in Mikkeli. The facility will be built in phases, eventually reaching 165 MW of contracted IT capacity. Construction on the first 50 MW phase is already underway.
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