Cerebras (CBRS) Stock Drops 13% Despite Claiming Its New Chip Beats Nvidia by 30x
TLDR
- Cerebras launched the CS-4, a new rack-scale AI inference system built around three WSE-3 Turbo wafer-scale processors
- The company claims CS-4 delivers 30x more tokens per second per user compared to GPU-based systems
- CBRS stock fell over 35% from its IPO price of $185, trading around $218 midday Tuesday, and was down 12.69% on the day
- Q2 earnings showed a loss per share of -$2.98, compared to a profit of $1.91 in the same quarter last year
- Cerebras targets 600 megawatts of computing capacity by end of 2027 and claims 20x throughput improvement is planned
Cerebras Systems (CBRS) dropped 12.69% on Tuesday as the AI chipmaker unveiled its newest server system while reporting a steep quarterly loss that rattled investors.
The stock was trading around $218 midday Tuesday, well below its IPO price of $185 when it began trading at $350 in May. That puts it more than 35% below its opening day price.
The Q2 results were tough. Cerebras posted a loss per share of -$2.98, a sharp reversal from the $1.91 profit it reported in the same quarter last year. Better-than-expected Q3 guidance wasn’t enough to reassure Wall Street.
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